Nektar Therapeutics $NKTR Shares Bought by Propel Bio Management LLC

Propel Bio Management LLC raised its position in Nektar Therapeutics (NASDAQ:NKTR) by 69.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 82,822 shares of the biopharmaceutical company’s stock after acquiring an additional 33,822 shares during the period. Nektar Therapeutics makes up 3.0% of Propel Bio Management LLC’s investment portfolio, making the stock its 12th largest holding. Propel Bio Management LLC’s holdings in Nektar Therapeutics were worth $3,502,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in NKTR. AQR Capital Management LLC lifted its stake in shares of Nektar Therapeutics by 336.9% in the 1st quarter. AQR Capital Management LLC now owns 3,640,851 shares of the biopharmaceutical company’s stock worth $2,463,000 after acquiring an additional 2,807,595 shares during the period. Farallon Capital Management LLC acquired a new stake in shares of Nektar Therapeutics in the 3rd quarter worth $45,008,000. Two Seas Capital LP acquired a new stake in shares of Nektar Therapeutics in the 4th quarter worth $31,506,000. Two Sigma Investments LP lifted its stake in shares of Nektar Therapeutics by 446.9% in the 3rd quarter. Two Sigma Investments LP now owns 434,237 shares of the biopharmaceutical company’s stock worth $24,708,000 after acquiring an additional 354,842 shares during the period. Finally, Jefferies Financial Group Inc. acquired a new stake in shares of Nektar Therapeutics in the 3rd quarter worth $17,252,000. Institutional investors and hedge funds own 75.88% of the company’s stock.

Insider Buying and Selling

In related news, CEO Howard W. Robin sold 444 shares of the 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 sale, the chief executive officer directly owned 75,045 shares of the company’s stock, valued at approximately $4,916,197.95. This represents a 0.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

NKTR has been the subject of several recent analyst reports. Jefferies Financial Group restated a “buy” rating on shares of Nektar Therapeutics in a research note on Wednesday, April 22nd. Piper Sandler raised their target price on shares of Nektar Therapeutics from $105.00 to $192.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. HC Wainwright raised their target price on shares of Nektar Therapeutics from $165.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. William Blair upgraded shares of Nektar Therapeutics from a “market perform” rating to an “outperform” rating in a report on Tuesday, February 10th. Finally, B. Riley Financial reiterated a “buy” rating and issued a $150.00 price target (up from $105.00) on shares of Nektar Therapeutics in a report on Monday, February 23rd. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $149.63.

Nektar Therapeutics Trading Down 3.4%

Shares of NASDAQ NKTR opened at $57.32 on Friday. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of -6.81 and a beta of 1.13. Nektar Therapeutics has a 52 week low of $7.99 and a 52 week high of $109.00. The company’s 50-day moving average price is $75.88 and its 200 day moving average price is $62.22.

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 analysts’ consensus estimates of ($1.58) by ($0.24). The business had revenue of $10.86 million during the quarter, compared to analyst estimates of $10.69 million. Nektar Therapeutics had a negative net margin of 284.18% and a negative return on equity of 85.40%. As a group, research analysts expect that Nektar Therapeutics will post -9.45 earnings per share for the current year.

About Nektar Therapeutics

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.