Gotham Asset Management LLC lessened its stake in shares of Nektar Therapeutics (NASDAQ:NKTR) by 42.5% during the fourth quarter, HoldingsChannel reports. The firm owned 181,095 shares of the biopharmaceutical company’s stock after selling 133,892 shares during the period. Gotham Asset Management LLC’s holdings in Nektar Therapeutics were worth $5,953,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of NKTR. Laurel Wealth Advisors LLC acquired a new stake in shares of Nektar Therapeutics in the 4th quarter worth about $39,000. Sandy Spring Bank acquired a new stake in shares of Nektar Therapeutics in the 4th quarter worth about $59,000. Financial Architects Inc raised its holdings in shares of Nektar Therapeutics by 91.6% in the 4th quarter. Financial Architects Inc now owns 2,092 shares of the biopharmaceutical company’s stock worth $69,000 after acquiring an additional 1,000 shares during the last quarter. Essex Investment Management Co. LLC acquired a new stake in shares of Nektar Therapeutics in the 4th quarter worth about $101,000. Finally, Belpointe Asset Management LLC acquired a new stake in shares of Nektar Therapeutics in the 3rd quarter worth about $123,000. Institutional investors own 93.35% of the company’s stock.
NASDAQ:NKTR opened at $32.17 on Friday. The company has a quick ratio of 17.39, a current ratio of 17.53 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $5.60 billion, a price-to-earnings ratio of 8.94 and a beta of 3.09. Nektar Therapeutics has a 52 week low of $29.22 and a 52 week high of $108.23.
In other news, CEO Howard W. Robin sold 108,882 shares of the firm’s stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $42.19, for a total transaction of $4,593,731.58. Following the completion of the sale, the chief executive officer now owns 350,924 shares in the company, valued at approximately $14,805,483.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Gil M. Labrucherie sold 3,592 shares of the firm’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $42.39, for a total transaction of $152,264.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 241,824 shares of company stock valued at $10,249,993. 4.31% of the stock is currently owned by company insiders.
A number of research firms recently weighed in on NKTR. Svb Leerink started coverage on shares of Nektar Therapeutics in a report on Friday, March 15th. They issued a “mkt perform” rating and a $38.00 target price on the stock. Leerink Swann started coverage on shares of Nektar Therapeutics in a research note on Friday, March 15th. They issued a “market perform” rating for the company. BidaskClub lowered shares of Nektar Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 9th. HC Wainwright reiterated a “hold” rating and issued a $47.00 price objective on shares of Nektar Therapeutics in a research note on Monday, March 4th. Finally, Piper Jaffray Companies set a $100.00 price objective on shares of Nektar Therapeutics and gave the company a “buy” rating in a research note on Friday, March 1st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. Nektar Therapeutics presently has a consensus rating of “Buy” and an average target price of $73.92.
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Nektar Therapeutics Profile
Nektar Therapeutics, a research-based biopharmaceutical company, discovers and develops drug candidates for cancer, auto-immune disease, and chronic pain in the United States. The company offers ONZEALD, a topoisomerase I inhibitor that is in Phase III clinical trial for advanced metastatic breast cancer in patients with brain metastases; NKTR-181, an orally-available mu-opioid analgesic molecule, which is in Phase III clinical trial for moderate to severe chronic pain; NKTR-214, a cytokine immunostimulatory therapy that is in Phase I/II to treat cancer; NKTR-358, which is in Phase I to treat autoimmune diseases; and NKTR-262 for solid tumors, as well as NKTR-255 that is under research/preclinical stage for immuno-oncology.
Further Reading: Asset Allocation and Your Retirement
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