SummitTX Capital L.P. Increases Stock Position in Nektar Therapeutics $NKTR

SummitTX Capital L.P. raised its position in Nektar Therapeutics (NASDAQ:NKTR) by 35.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 42,624 shares of the biopharmaceutical company’s stock after buying an additional 11,271 shares during the period. SummitTX Capital L.P.’s holdings in Nektar Therapeutics were worth $3,067,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Iridian Asset Management LLC CT acquired a new stake in shares of Nektar Therapeutics during the 4th quarter valued at about $411,000. Gainplan LLC raised its holdings in Nektar Therapeutics by 168.1% in the 4th quarter. Gainplan LLC now owns 13,500 shares of the biopharmaceutical company’s stock worth $571,000 after purchasing an additional 8,465 shares during the period. BVF Inc. IL raised its holdings in Nektar Therapeutics by 22.2% in the 4th quarter. BVF Inc. IL now owns 1,559,595 shares of the biopharmaceutical company’s stock worth $65,940,000 after purchasing an additional 283,000 shares during the period. Orbimed Advisors LLC purchased a new position in Nektar Therapeutics during the first quarter worth approximately $19,786,000. Finally, SG Americas Securities LLC acquired a new stake in Nektar Therapeutics in the fourth quarter valued at approximately $463,000. Institutional investors and hedge funds own 75.88% of the company’s stock.

Insider Activity

In other Nektar Therapeutics news, 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 value of $603,200.00. Following the transaction, the chief executive officer directly owned 65,045 shares of the company’s stock, valued at $3,923,514.40. This trade represents a 13.33% decrease in their position. 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 business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $70.00, for a total value of $397,670.00. Following the transaction, the insider owned 9,756 shares in the company, valued at approximately $682,920. This represents a 36.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 21,862 shares of company stock valued at $1,379,205. 2.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

NKTR has been the subject of a number of recent analyst reports. Wedbush cut their price objective on Nektar Therapeutics from $95.00 to $80.00 and set a “neutral” rating for the company in a research report on Monday, May 11th. Wall Street Zen upgraded Nektar Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Citigroup lifted their price target on shares of Nektar Therapeutics from $123.00 to $151.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Canaccord Genuity Group assumed coverage on shares of Nektar Therapeutics in a report on Wednesday, July 22nd. They issued a “buy” rating and a $153.00 price target for the company. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Nektar Therapeutics in a report on Wednesday, April 22nd. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $150.00.

Nektar Therapeutics Stock Down 0.8%

Nektar Therapeutics stock opened at $70.77 on Wednesday. The company has a fifty day simple moving average of $65.50 and a 200-day simple moving average of $65.98. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of -8.40 and a beta of 1.13. Nektar Therapeutics has a 52-week low of $21.02 and a 52-week 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 business had revenue of $10.86 million during the quarter, compared to analysts’ expectations of $10.69 million. Nektar Therapeutics had a negative return on equity of 85.40% and a negative net margin of 284.18%. On average, research analysts anticipate that Nektar Therapeutics will post -9.37 EPS for the current fiscal year.

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.