Healthcare of Ontario Pension Plan Trust Fund Invests $1.14 Million in Nektar Therapeutics $NKTR

Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Nektar Therapeutics (NASDAQ:NKTR) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,813 shares of the biopharmaceutical company’s stock, valued at approximately $1,138,000.

Several other institutional investors also recently bought and sold shares of 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 purchasing an additional 2,807,595 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Nektar Therapeutics in the 1st quarter worth $68,000. Rhumbline Advisers boosted its position in shares of Nektar Therapeutics by 23.3% in 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 in the last quarter. Marshall Wace LLP purchased a new position in Nektar Therapeutics during the 2nd quarter worth $367,000. Finally, Headlands Technologies LLC purchased a new position in Nektar Therapeutics during the 2nd quarter worth $65,000. 75.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NKTR has been the subject of a number of research analyst reports. Citigroup increased their price target on Nektar Therapeutics from $123.00 to $151.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. HC Wainwright boosted their price target on Nektar Therapeutics from $165.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. BTIG Research upped their price objective on shares of Nektar Therapeutics from $151.00 to $178.00 and gave the company a “buy” rating in a report on Monday, April 20th. Canaccord Genuity Group began coverage on shares of Nektar Therapeutics in a research report on Wednesday, July 22nd. They issued a “buy” rating and a $153.00 price objective for the company. Finally, Piper Sandler lifted their target price on shares of Nektar Therapeutics from $105.00 to $192.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $150.00.

Nektar Therapeutics Price Performance

Shares of NKTR stock opened at $70.67 on Friday. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of -8.39 and a beta of 1.13. The business has a fifty day moving average of $65.66 and a 200 day moving average of $66.44. Nektar Therapeutics has a 1 year low of $21.02 and a 1 year high of $109.00.

Nektar Therapeutics (NASDAQ:NKTR) last posted its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.82) earnings per share 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 analysts’ expectations 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 expect that Nektar Therapeutics will post -9.37 earnings per share for the current year.

Insider Activity

In related news, CEO Howard W. Robin sold 10,000 shares of Nektar Therapeutics stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $60.32, for a total transaction of $603,200.00. Following the completion of the sale, the chief executive officer owned 65,045 shares of the company’s stock, valued at $3,923,514.40. The trade was a 13.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jonathan Zalevsky sold 5,681 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $70.00, for a total value of $397,670.00. Following the completion of the sale, the insider owned 9,756 shares in the company, valued at approximately $682,920. This represents a 36.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 21,862 shares of company stock valued at $1,379,205. Company insiders own 2.50% of the company’s stock.

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.