JPMorgan Chase & Co. decreased its position in Nektar Therapeutics (NASDAQ:NKTR) by 2.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 873,233 shares of the biopharmaceutical company’s stock after selling 18,909 shares during the period. JPMorgan Chase & Co. owned 0.64% of Nektar Therapeutics worth $12,426,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Cormorant Asset Management LLC boosted its position in shares of Nektar Therapeutics by 161.4% in the first quarter. Cormorant Asset Management LLC now owns 2,000,000 shares of the biopharmaceutical company’s stock worth $27,500,000 after buying an additional 1,234,844 shares during the period. Bridger Management LLC acquired a new position in shares of Nektar Therapeutics during the first quarter worth $48,359,000. Bellevue Group AG acquired a new position in shares of Nektar Therapeutics during the first quarter worth $2,970,000. HBK Investments L P acquired a new position in shares of Nektar Therapeutics during the first quarter worth $178,000. Finally, Geode Capital Management LLC boosted its position in shares of Nektar Therapeutics by 7.9% in the first quarter. Geode Capital Management LLC now owns 979,790 shares of the biopharmaceutical company’s stock worth $13,472,000 after buying an additional 72,107 shares during the period. 96.91% of the stock is owned by institutional investors and hedge funds.
Shares of Nektar Therapeutics (NASDAQ:NKTR) traded down 0.960% during trading on Monday, hitting $17.015. 399,531 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $18.21 and its 200 day moving average is $15.76. Nektar Therapeutics has a 1-year low of $9.92 and a 1-year high of $19.98. The firm’s market capitalization is $2.33 billion.
Nektar Therapeutics (NASDAQ:NKTR) last issued its quarterly earnings results on Wednesday, August 3rd. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by $0.03. The company earned $32.77 million during the quarter, compared to analyst estimates of $34.17 million. Nektar Therapeutics had a negative return on equity of 8,769.15% and a negative net margin of 68.30%. The company’s revenue was up 44.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.40) earnings per share. On average, equities research analysts forecast that Nektar Therapeutics will post ($1.11) earnings per share for the current year.
A number of brokerages have recently weighed in on NKTR. Jefferies Group reissued a “buy” rating on shares of Nektar Therapeutics in a research note on Thursday, September 8th. Zacks Investment Research upgraded shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, September 21st. Piper Jaffray Cos. restated an “overweight” rating and set a $21.00 target price (up previously from $17.00) on shares of Nektar Therapeutics in a research report on Friday, August 5th. Finally, Brean Capital restated a “buy” rating and set a $18.00 target price on shares of Nektar Therapeutics in a research report on Friday, August 5th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Nektar Therapeutics has an average rating of “Buy” and an average target price of $21.75.
In related news, CAO Jillian B. Thomsen sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $15.09, for a total value of $1,509,000.00. Following the sale, the chief accounting officer now directly owns 106,809 shares in the company, valued at approximately $1,611,747.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher A. Kuebler sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $19.13, for a total transaction of $143,475.00. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by insiders.
Nektar Therapeutics Company Profile
Nektar Therapeutics is a biopharmaceutical company. The Company is engaged in the development of a pipeline of drug candidates that utilize its PEGylation and advanced polymer conjugate technology platforms, which are designed to enable the development of new molecular entities that target known mechanisms of action.
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