Y Intercept Hong Kong Ltd Acquires 15,683 Shares of Nektar Therapeutics $NKTR

Y Intercept Hong Kong Ltd lifted its holdings in shares of Nektar Therapeutics (NASDAQ:NKTR) by 144.4% in the 1st quarter, Holdings Channel reports. The firm owned 26,545 shares of the biopharmaceutical company’s stock after acquiring an additional 15,683 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Nektar Therapeutics were worth $1,910,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Pictet Asset Management Holding SA purchased a new stake in Nektar Therapeutics in the first quarter valued at approximately $268,000. OP Asset Management Ltd bought a new stake in Nektar Therapeutics during the first quarter valued at approximately $287,000. Seven Fleet Capital Management LP purchased a new position in Nektar Therapeutics in the 4th quarter worth approximately $634,000. Virtu Financial LLC purchased a new position in Nektar Therapeutics in the 4th quarter worth approximately $584,000. Finally, Invesco Ltd. increased its holdings in shares of Nektar Therapeutics by 106.3% in the 4th quarter. Invesco Ltd. now owns 468,159 shares of the biopharmaceutical company’s stock worth $19,794,000 after buying an additional 241,262 shares during the last quarter. 75.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. TD Cowen initiated coverage on shares of Nektar Therapeutics in a research report on Tuesday, March 17th. They set a “buy” rating on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Nektar Therapeutics in a research note on Tuesday, June 2nd. Citigroup increased their target price on Nektar Therapeutics from $123.00 to $151.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. BTIG Research raised their price target on Nektar Therapeutics from $151.00 to $178.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Finally, Wall Street Zen raised Nektar Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Nektar Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.62.

Insiders Place Their Bets

In other Nektar Therapeutics news, CEO Howard W. Robin sold 10,000 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer directly owned 65,045 shares of the company’s stock, valued at $3,923,514.40. The trade was a 13.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jonathan Zalevsky sold 5,681 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $70.00, for a total transaction of $397,670.00. Following the sale, the insider owned 9,756 shares of the company’s stock, valued at approximately $682,920. The trade was a 36.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 21,862 shares of company stock worth $1,379,205. 2.50% of the stock is owned by corporate insiders.

Nektar Therapeutics Price Performance

Shares of NASDAQ NKTR opened at $72.92 on Friday. The stock has a market capitalization of $2.46 billion, a P/E ratio of -8.66 and a beta of 1.13. Nektar Therapeutics has a one year low of $21.02 and a one year high of $109.00. The firm’s 50 day simple moving average is $67.94 and its two-hundred day simple moving average is $63.65.

Nektar Therapeutics (NASDAQ:NKTR) last announced its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($1.82) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $10.86 million during the quarter, compared to the consensus estimate of $10.69 million. As a group, equities analysts expect that Nektar Therapeutics will post -9.45 earnings per share 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.