Shell Asset Management Co. continued to hold its stake in Nektar Therapeutics (NASDAQ:NKTR) during the second quarter, Holdings Channel reports. The firm owned 46,763 shares of the biopharmaceutical company’s stock at the end of the second quarter. Shell Asset Management Co.’s holdings in Nektar Therapeutics were worth $665,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Norges Bank acquired a new stake in Nektar Therapeutics during the fourth quarter worth about $35,961,000. Prudential Financial Inc. boosted its position in shares of Nektar Therapeutics by 4.9% in the first quarter. Prudential Financial Inc. now owns 322,973 shares of the biopharmaceutical company’s stock valued at $4,441,000 after buying an additional 15,100 shares in the last quarter. BlackRock Inc. boosted its position in shares of Nektar Therapeutics by 74.8% in the first quarter. BlackRock Inc. now owns 9,013 shares of the biopharmaceutical company’s stock valued at $124,000 after buying an additional 3,858 shares in the last quarter. BlackRock Group LTD boosted its position in shares of Nektar Therapeutics by 8.9% in the first quarter. BlackRock Group LTD now owns 175,205 shares of the biopharmaceutical company’s stock valued at $2,408,000 after buying an additional 14,340 shares in the last quarter. Finally, BlackRock Fund Advisors boosted its position in shares of Nektar Therapeutics by 1.7% in the first quarter. BlackRock Fund Advisors now owns 10,029,475 shares of the biopharmaceutical company’s stock valued at $137,905,000 after buying an additional 171,759 shares in the last quarter. 96.91% of the stock is owned by institutional investors and hedge funds.
Nektar Therapeutics (NASDAQ:NKTR) traded down 1.12% during midday trading on Friday, hitting $16.81. The stock had a trading volume of 1,020,023 shares. The stock’s 50-day moving average is $18.14 and its 200-day moving average is $15.92. The stock’s market capitalization is $2.30 billion. Nektar Therapeutics has a 1-year low of $9.92 and a 1-year high of $19.98.
Nektar Therapeutics (NASDAQ:NKTR) last posted its quarterly earnings data on Wednesday, August 3rd. The biopharmaceutical company reported ($0.36) EPS for the quarter, missing the Zacks’ consensus estimate 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%. Nektar Therapeutics’s revenue was up 44.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.40) earnings per share. On average, equities research analysts anticipate that Nektar Therapeutics will post ($1.11) EPS for the current fiscal year.
Several equities analysts have recently weighed in on the stock. Jefferies Group reaffirmed a “buy” rating on shares of Nektar Therapeutics in a research note on Thursday, September 8th. Zacks Investment Research raised shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, September 21st. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $21.00 price target (up from $17.00) on shares of Nektar Therapeutics in a research note on Friday, August 5th. Finally, Brean Capital reaffirmed a “buy” rating and set a $18.00 price target on shares of Nektar Therapeutics in a research note on Friday, August 5th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $21.75.
In other Nektar Therapeutics news, CAO Jillian B. Thomsen sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $15.09, for a total value of $1,509,000.00. Following the transaction, the chief accounting officer now directly owns 106,809 shares of the company’s stock, valued at $1,611,747.81. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert Chess sold 5,000 shares of the business’s 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 disclosure for this sale can be found here. 6.10% of the stock is owned by company 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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