Simplify Asset Management Inc. Sells 59,174 Shares of Nektar Therapeutics $NKTR

Simplify Asset Management Inc. decreased its stake in Nektar Therapeutics (NASDAQ:NKTR) by 67.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,000 shares of the biopharmaceutical company’s stock after selling 59,174 shares during the period. Simplify Asset Management Inc.’s holdings in Nektar Therapeutics were worth $1,184,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Farallon Capital Management LLC bought a new position in shares of Nektar Therapeutics in the 3rd quarter worth $45,008,000. Readystate Asset Management LP bought a new position in shares of Nektar Therapeutics in the 3rd quarter worth $2,563,000. Hudson Bay Capital Management LP bought a new position in shares of Nektar Therapeutics in the 3rd quarter worth $6,127,000. Propel Bio Management LLC bought a new position in shares of Nektar Therapeutics in the 3rd quarter worth $2,788,000. Finally, Persistent Asset Partners Ltd bought a new position in shares of Nektar Therapeutics in the 3rd quarter worth $983,000. Institutional investors own 75.88% of the company’s stock.

Insider Activity at Nektar Therapeutics

In other news, CEO Howard W. Robin sold 444 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $65.51, for a total value of $29,086.44. Following the completion of the sale, the chief executive officer directly owned 75,045 shares of the company’s stock, valued at approximately $4,916,197.95. This trade represents a 0.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. William Blair raised shares of Nektar Therapeutics from a “market perform” rating to an “outperform” rating in a report on Tuesday, February 10th. Wedbush reduced their target price on shares of Nektar Therapeutics from $95.00 to $80.00 and set a “neutral” rating on the stock in a report on Monday, May 11th. Piper Sandler increased their target price on shares of Nektar Therapeutics from $105.00 to $192.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Wall Street Zen raised shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Finally, BTIG Research increased their target price 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. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Nektar Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $149.63.

Nektar Therapeutics Price Performance

Shares of NKTR opened at $66.61 on Monday. The stock has a market capitalization of $2.25 billion, a P/E ratio of -7.91 and a beta of 1.24. The firm has a fifty day simple moving average of $77.98 and a two-hundred day simple moving average of $61.82. Nektar Therapeutics has a twelve month low of $7.99 and a twelve month high of $109.00.

Nektar Therapeutics (NASDAQ:NKTR) last posted its earnings results 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. Sell-side analysts expect that Nektar Therapeutics will post -9.65 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.