Armistice Capital LLC Purchases 328,000 Shares of Nektar Therapeutics $NKTR

Armistice Capital LLC boosted its position in Nektar Therapeutics (NASDAQ:NKTR) by 122.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 596,000 shares of the biopharmaceutical company’s stock after acquiring an additional 328,000 shares during the quarter. Armistice Capital LLC’s holdings in Nektar Therapeutics were worth $25,199,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its stake in Nektar Therapeutics by 93.8% in the third quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 210 shares during the last quarter. Compass Wealth Management LLC bought a new position in Nektar Therapeutics in the third quarter valued at $88,000. Quarry LP bought a new position in Nektar Therapeutics in the fourth quarter valued at $85,000. Flagship Harbor Advisors LLC bought a new position in Nektar Therapeutics in the fourth quarter valued at $92,000. Finally, Headlands Technologies LLC bought a new position in Nektar Therapeutics in the second quarter valued at $65,000. Institutional investors own 75.88% of the company’s stock.

Insider Buying and Selling

In other Nektar Therapeutics news, insider Jonathan Zalevsky sold 5,538 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $60.71, for a total transaction of $336,211.98. Following the completion of the transaction, the insider owned 15,437 shares of the company’s stock, valued at approximately $937,180.27. This trade represents a 26.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Howard W. Robin sold 444 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $65.51, for a total transaction of $29,086.44. Following the transaction, the chief executive officer directly owned 75,045 shares of the company’s stock, valued at $4,916,197.95. This represents a 0.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 6,181 shares of company stock valued at $378,335 in the last ninety days. Insiders own 2.50% of the company’s stock.

Nektar Therapeutics Trading Up 1.1%

Nektar Therapeutics stock opened at $60.92 on Thursday. Nektar Therapeutics has a 1-year low of $8.27 and a 1-year high of $109.00. The firm has a 50-day moving average of $73.67 and a 200-day moving average of $62.18. The firm has a market cap of $2.06 billion, a P/E ratio of -7.24 and a beta of 1.13.

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NKTR. TD Cowen began coverage on Nektar Therapeutics in a research note on Tuesday, March 17th. They issued a “buy” rating on the stock. HC Wainwright upped their price target on shares of Nektar Therapeutics from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, April 20th. BTIG Research upped their price target on shares of Nektar Therapeutics from $151.00 to $178.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Citigroup upped their price target on shares of Nektar Therapeutics from $123.00 to $151.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. Finally, Jefferies Financial Group restated a “buy” rating on shares of Nektar Therapeutics in a research report on Wednesday, April 22nd. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Nektar Therapeutics has an average rating of “Moderate Buy” and an average price target of $149.63.

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.