Nektar Therapeutics $NKTR Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA decreased its position in shares of Nektar Therapeutics (NASDAQ:NKTR) by 3.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 289,050 shares of the biopharmaceutical company’s stock after selling 10,668 shares during the period. Primecap Management Co. CA owned about 1.52% of Nektar Therapeutics worth $16,447,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NKTR. AQR Capital Management LLC increased its position in shares of Nektar Therapeutics by 336.9% during the first quarter. AQR Capital Management LLC now owns 3,640,851 shares of the biopharmaceutical company’s stock worth $2,463,000 after acquiring an additional 2,807,595 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Nektar Therapeutics during the 1st quarter valued at approximately $68,000. Rhumbline Advisers increased its holdings in Nektar Therapeutics by 23.3% during the 1st quarter. Rhumbline Advisers now owns 221,761 shares of the biopharmaceutical company’s stock worth $151,000 after purchasing an additional 41,948 shares during the last quarter. Moody Aldrich Partners LLC acquired a new position in shares of Nektar Therapeutics in the 2nd quarter valued at approximately $1,173,000. Finally, Simplify Asset Management Inc. purchased a new position in shares of Nektar Therapeutics during the 2nd quarter valued at approximately $1,344,000. 75.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NKTR shares. B. Riley Financial restated a “buy” rating and issued a $150.00 price target (up from $105.00) on shares of Nektar Therapeutics in a research note on Monday, February 23rd. Weiss Ratings reissued a “sell (e+)” rating on shares of Nektar Therapeutics in a research report on Monday, December 29th. Citigroup initiated coverage on shares of Nektar Therapeutics in a research note on Wednesday, November 26th. They issued a “buy” rating and a $102.00 target price on the stock. HC Wainwright lifted their price target on Nektar Therapeutics from $135.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. Finally, William Blair raised Nektar Therapeutics from a “market perform” rating to an “outperform” rating in a report on Tuesday, February 10th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $126.29.

Insider Buying and Selling

In other news, insider Jonathan Zalevsky sold 3,867 shares of the stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $35.67, for a total transaction of $137,935.89. Following the sale, the insider directly owned 21,354 shares in the company, valued at approximately $761,697.18. This represents a 15.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Howard W. Robin sold 423 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $73.00, for a total value of $30,879.00. Following the transaction, the chief executive officer owned 75,489 shares of the company’s stock, valued at $5,510,697. This represents a 0.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 4,470 shares of company stock worth $181,955 over the last quarter. Insiders own 5.25% of the company’s stock.

Nektar Therapeutics Stock Up 4.7%

Shares of NASDAQ:NKTR opened at $68.98 on Friday. The company has a market cap of $1.40 billion, a PE ratio of -8.66 and a beta of 1.34. Nektar Therapeutics has a fifty-two week low of $6.45 and a fifty-two week high of $75.67. The firm has a 50-day simple moving average of $47.98 and a 200 day simple moving average of $49.99.

Nektar Therapeutics Profile

Nektar Therapeutics (NASDAQ:NKTR) is a biopharmaceutical company dedicated to discovering and developing novel drug candidates through its proprietary chemistry and immunology platforms. The company focuses on polymer conjugate technology, which enables the creation of longer-acting versions of existing drugs, and on T-cell modulatory therapies aimed at harnessing the body’s immune system to treat cancer and other serious diseases.

Nektar’s product portfolio and pipeline include a range of clinical-stage and partnered programs.