Rice Hall James & Associates LLC increased its stake in Nektar Therapeutics (NASDAQ:NKTR) by 1.4% during the second quarter, Holdings Channel reports. The institutional investor owned 932,933 shares of the biopharmaceutical company’s stock after buying an additional 12,812 shares during the period. Rice Hall James & Associates LLC’s holdings in Nektar Therapeutics were worth $13,276,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of NKTR. Bridger Management LLC bought a new position in shares of Nektar Therapeutics during the first quarter valued at about $48,359,000. Norges Bank bought a new position in shares of Nektar Therapeutics during the fourth quarter valued at about $35,961,000. Cormorant Asset Management LLC increased 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 valued at $27,500,000 after buying an additional 1,234,844 shares in the last quarter. Primecap Management Co. CA increased its position in shares of Nektar Therapeutics by 1.1% in the first quarter. Primecap Management Co. CA now owns 20,010,086 shares of the biopharmaceutical company’s stock valued at $275,139,000 after buying an additional 225,800 shares in the last quarter. Finally, Bellevue Group AG bought a new position in shares of Nektar Therapeutics during the first quarter valued at about $2,970,000. Hedge funds and other institutional investors own 96.91% of the company’s stock.
Shares of Nektar Therapeutics (NASDAQ:NKTR) traded up 0.71% during mid-day trading on Wednesday, hitting $17.06. 711,121 shares of the stock traded hands. The company’s market cap is $2.33 billion. Nektar Therapeutics has a 52 week low of $9.92 and a 52 week high of $19.98. The stock has a 50-day moving average of $18.19 and a 200-day moving average of $15.88.
Nektar Therapeutics (NASDAQ:NKTR) last posted its quarterly earnings data on Wednesday, August 3rd. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by $0.03. The company earned $32.77 million during the quarter, compared to the consensus estimate of $34.17 million. Nektar Therapeutics had a negative net margin of 68.30% and a negative return on equity of 8,769.15%. The company’s revenue was up 44.6% on a year-over-year basis. During the same quarter last year, the business earned ($0.40) earnings per share. Analysts anticipate that Nektar Therapeutics will post ($1.11) EPS for the current year.
NKTR has been the subject of several research reports. Zacks Investment Research upgraded Nektar Therapeutics from a “hold” rating to a “strong-buy” rating and set a $18.00 price objective for the company in a research report on Tuesday, July 19th. Jefferies Group reiterated a “buy” rating on shares of Nektar Therapeutics in a report on Thursday, September 8th. Brean Capital reiterated a “buy” rating and issued a $23.00 price target on shares of Nektar Therapeutics in a report on Friday, September 30th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and issued a $21.00 price target (up from $17.00) on shares of Nektar Therapeutics in a report on Friday, August 5th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Nektar Therapeutics currently has an average rating of “Buy” and an average target price of $21.75.
In other news, Director Robert Chess sold 5,000 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $17.26, for a total value of $86,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher A. Kuebler sold 7,500 shares of the stock in a transaction that occurred on Friday, September 16th. The shares were 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.
About Nektar Therapeutics
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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