First Light Asset Management LLC Has $25.40 Million Stock Position in Nektar Therapeutics (NASDAQ:NKTR)

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First Light Asset Management LLC lessened its stake in Nektar Therapeutics (NASDAQ:NKTR) by 6.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 713,769 shares of the biopharmaceutical company’s stock after selling 49,634 shares during the period. Nektar Therapeutics accounts for 3.5% of First Light Asset Management LLC’s portfolio, making the stock its 8th biggest holding. First Light Asset Management LLC’s holdings in Nektar Therapeutics were worth $25,396,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Aperio Group LLC lifted its position in shares of Nektar Therapeutics by 8.3% in the second quarter. Aperio Group LLC now owns 44,069 shares of the biopharmaceutical company’s stock worth $1,567,000 after purchasing an additional 3,360 shares in the last quarter. Financial Advisors Network Inc. grew its stake in shares of Nektar Therapeutics by 10.7% in the second quarter. Financial Advisors Network Inc. now owns 32,582 shares of the biopharmaceutical company’s stock worth $938,000 after acquiring an additional 3,154 shares during the last quarter. Atria Investments LLC acquired a new stake in shares of Nektar Therapeutics in the second quarter worth $240,000. Bank of New York Mellon Corp grew its stake in shares of Nektar Therapeutics by 2.4% in the second quarter. Bank of New York Mellon Corp now owns 1,479,386 shares of the biopharmaceutical company’s stock worth $52,637,000 after acquiring an additional 35,176 shares during the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of Nektar Therapeutics by 178.3% in the second quarter. Acadian Asset Management LLC now owns 319,029 shares of the biopharmaceutical company’s stock worth $11,351,000 after acquiring an additional 204,394 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Several research analysts recently commented on NKTR shares. Zacks Investment Research cut Nektar Therapeutics from a “buy” rating to a “hold” rating and set a $34.00 target price for the company. in a research report on Wednesday, July 31st. JPMorgan Chase & Co. cut Nektar Therapeutics from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $62.00 to $33.00 in a report on Friday, August 9th. Cowen set a $82.00 price objective on Nektar Therapeutics and gave the company a “buy” rating in a report on Thursday, June 13th. Evercore ISI reissued a “hold” rating and set a $37.00 price objective on shares of Nektar Therapeutics in a report on Sunday, August 11th. Finally, BidaskClub cut Nektar Therapeutics from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $49.15.

Shares of NKTR opened at $20.15 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 13.97 and a current ratio of 14.09. The stock has a 50 day simple moving average of $20.26 and a 200 day simple moving average of $30.25. Nektar Therapeutics has a 52-week low of $16.56 and a 52-week high of $62.70. The firm has a market capitalization of $3.52 billion, a PE ratio of 5.33 and a beta of 2.70.

Nektar Therapeutics (NASDAQ:NKTR) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.63) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.80) by $0.17. The business had revenue of $23.32 million during the quarter, compared to analyst estimates of $26.65 million. Nektar Therapeutics had a negative return on equity of 25.25% and a negative net margin of 354.90%. Nektar Therapeutics’s quarterly revenue was down 97.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.33 EPS. Equities research analysts predict that Nektar Therapeutics will post -2.85 EPS for the current fiscal year.

In other news, SVP Stephen K. Doberstein bought 15,000 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were purchased at an average price of $17.28 per share, for a total transaction of $259,200.00. Following the purchase, the senior vice president now owns 107,668 shares of the company’s stock, valued at approximately $1,860,503.04. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Gil M. Labrucherie sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $20.52, for a total value of $513,000.00. The disclosure for this sale can be found here. Insiders sold a total of 141,576 shares of company stock worth $3,660,497 in the last 90 days. Company insiders own 4.02% of the company’s stock.

Nektar Therapeutics Profile

Nektar Therapeutics, a biopharmaceutical company, develops drug candidates for cancer, auto-immune disease, and chronic pain in the United States. The company develops NKTR-181, an orally-available mu-opioid analgesic molecule, which is in Phase III clinical trial for moderate to severe chronic pain; ONZEALD, a topoisomerase I inhibitor that is in Phase III clinical trial for advanced metastatic breast cancer in patients with brain metastases; and NKTR-214, a CD122-preferential interleukin-2 (IL-2) pathway agonist, which is in Phase I to treat immuno-oncology.

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Institutional Ownership by Quarter for Nektar Therapeutics (NASDAQ:NKTR)

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