Seven Fleet Capital Management LP Purchases New Position in Nektar Therapeutics $NKTR

Seven Fleet Capital Management LP purchased a new stake in Nektar Therapeutics (NASDAQ:NKTR) during the fourth quarter, Holdings Channel reports. The firm purchased 15,000 shares of the biopharmaceutical company’s stock, valued at approximately $634,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. AQR Capital Management LLC boosted its stake in shares of Nektar Therapeutics by 336.9% in the 1st quarter. AQR Capital Management LLC now owns 3,640,851 shares of the biopharmaceutical company’s stock valued at $2,463,000 after purchasing an additional 2,807,595 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in Nektar Therapeutics during the 1st quarter valued at about $68,000. Rhumbline Advisers boosted its position in Nektar Therapeutics by 23.3% in the first quarter. Rhumbline Advisers now owns 221,761 shares of the biopharmaceutical company’s stock valued at $151,000 after buying an additional 41,948 shares in the last quarter. Marshall Wace LLP acquired a new position in Nektar Therapeutics in the second quarter valued at about $367,000. Finally, Headlands Technologies LLC bought a new stake in Nektar Therapeutics during the second quarter worth about $65,000. 75.88% of the stock is owned by institutional investors.

Nektar Therapeutics Stock Up 0.1%

NKTR stock opened at $60.98 on Friday. The company has a market cap of $2.06 billion, a P/E ratio of -7.24 and a beta of 1.13. Nektar Therapeutics has a twelve month low of $8.27 and a twelve month high of $109.00. The business has a fifty day moving average of $73.36 and a 200-day moving average of $62.16.

Nektar Therapeutics (NASDAQ:NKTR) last issued its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.58) by ($0.24). The firm had revenue of $10.86 million for the quarter, compared to analyst estimates of $10.69 million. Nektar Therapeutics had a negative net margin of 284.18% and a negative return on equity of 85.40%. As a group, equities research analysts anticipate that Nektar Therapeutics will post -9.45 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Jonathan Zalevsky sold 5,538 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $60.71, for a total value of $336,211.98. Following the transaction, the insider directly owned 15,437 shares in the company, valued at $937,180.27. This represents a 26.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Howard W. Robin sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $60.32, for a total transaction of $603,200.00. Following the completion of the transaction, the chief executive officer directly owned 65,045 shares in the company, valued at approximately $3,923,514.40. The trade was a 13.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 16,181 shares of company stock valued at $981,535 over the last three months. Company insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wall Street Zen raised shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Nektar Therapeutics in a research report on Tuesday, June 2nd. Oppenheimer reaffirmed an “outperform” rating and set a $140.00 price target on shares of Nektar Therapeutics in a report on Friday, March 13th. TD Cowen initiated coverage on Nektar Therapeutics in a report on Tuesday, March 17th. They set a “buy” rating for the company. Finally, HC Wainwright lifted their price objective on Nektar Therapeutics from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $149.62.

Nektar Therapeutics Company 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.