Swiss National Bank Grows Position in Nektar Therapeutics (NKTR)
Swiss National Bank increased its position in shares of Nektar Therapeutics (NASDAQ:NKTR) by 1.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 259,500 shares of the biopharmaceutical company’s stock after purchasing an additional 3,700 shares during the quarter. Swiss National Bank owned 165,995.01% of Nektar Therapeutics worth $6,228,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its position in shares of Nektar Therapeutics by 100.0% during the first quarter. Bank of America Corp DE now owns 276,642 shares of the biopharmaceutical company’s stock worth $6,493,000 after purchasing an additional 138,330 shares in the last quarter. LS Investment Advisors LLC boosted its position in shares of Nektar Therapeutics by 8.8% in the 2nd quarter. LS Investment Advisors LLC now owns 6,594 shares of the biopharmaceutical company’s stock valued at $129,000 after purchasing an additional 535 shares during the period. Louisiana State Employees Retirement System lifted its holdings in shares of Nektar Therapeutics by 0.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 63,200 shares of the biopharmaceutical company’s stock valued at $1,236,000 after buying an additional 500 shares during the period. Aperio Group LLC increased its stake in Nektar Therapeutics by 11.0% in the 2nd quarter. Aperio Group LLC now owns 43,347 shares of the biopharmaceutical company’s stock valued at $847,000 after purchasing an additional 4,290 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Nektar Therapeutics by 45.3% during the second quarter. Russell Investments Group Ltd. now owns 132,207 shares of the biopharmaceutical company’s stock worth $2,585,000 after purchasing an additional 41,242 shares during the last quarter. 94.22% of the stock is owned by hedge funds and other institutional investors.
In related news, SVP Stephen K. Doberstein sold 396,323 shares of the firm’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $29.00, for a total transaction of $11,493,367.00. Following the sale, the senior vice president now directly owns 52,016 shares in the company, valued at $1,508,464. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Howard W. Robin sold 83,333 shares of the firm’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $21.54, for a total transaction of $1,794,992.82. Following the sale, the chief executive officer now owns 235,837 shares in the company, valued at $5,079,928.98. The disclosure for this sale can be found here. Over the last three months, insiders have sold 941,427 shares of company stock worth $24,663,626. Insiders own 5.44% of the company’s stock.
Several research firms have recently commented on NKTR. Canaccord Genuity Group Inc. upped their target price on Nektar Therapeutics from $35.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, November 15th. Mizuho upped their price target on shares of Nektar Therapeutics from $30.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, November 14th. Roth Capital set a $45.00 price objective on shares of Nektar Therapeutics and gave the stock a “buy” rating in a report on Monday, November 13th. Cowen and Company assumed coverage on shares of Nektar Therapeutics in a report on Tuesday, November 7th. They set an “outperform” rating for the company. Finally, ValuEngine upgraded shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $35.58.
Nektar Therapeutics (NASDAQ:NKTR) opened at $49.98 on Wednesday. Nektar Therapeutics has a 52 week low of $11.41 and a 52 week high of $50.00. The company has a quick ratio of 3.99, a current ratio of 4.14 and a debt-to-equity ratio of 2.91.
Nektar Therapeutics (NASDAQ:NKTR) last announced its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.16. The company had revenue of $152.90 million for the quarter, compared to analysts’ expectations of $126.50 million. Nektar Therapeutics had a negative net margin of 42.08% and a negative return on equity of 190.68%. The business’s quarterly revenue was up 321.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.32) earnings per share. equities analysts forecast that Nektar Therapeutics will post -0.75 EPS for the current year.
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About Nektar Therapeutics
Nektar Therapeutics is a biopharmaceutical company that discovers and develops medicines in areas of high unmet medical need. The Company’s research and development pipeline of new investigational drugs includes treatments for cancer, auto-immune disease and chronic pain. It leverages its chemistry platform to discover and design new drug candidates.
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