Cetera Advisors LLC boosted its position in Nektar Therapeutics (NASDAQ:NKTR – Get Rating) by 20.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,255 shares of the biopharmaceutical company's stock after buying an additional 3,125 shares during the period. Cetera Advisors LLC's holdings in Nektar Therapeutics were worth $98,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Invesco Ltd. increased its holdings in shares of Nektar Therapeutics by 3.4% during the fourth quarter. Invesco Ltd. now owns 36,891,494 shares of the biopharmaceutical company's stock valued at $498,405,000 after acquiring an additional 1,220,307 shares in the last quarter. Woodline Partners LP acquired a new stake in Nektar Therapeutics in the 4th quarter valued at $13,329,000. Principal Financial Group Inc. increased its stake in Nektar Therapeutics by 87.8% during the 4th quarter. Principal Financial Group Inc. now owns 1,261,799 shares of the biopharmaceutical company's stock valued at $17,047,000 after purchasing an additional 589,861 shares in the last quarter. M28 Capital Management LP bought a new stake in Nektar Therapeutics during the 4th quarter valued at $7,574,000. Finally, Public Sector Pension Investment Board bought a new stake in Nektar Therapeutics during the 4th quarter valued at $5,078,000. 96.99% of the stock is owned by institutional investors and hedge funds.

Nektar Therapeutics Price Performance

NASDAQ NKTR opened at $3.80 on Thursday. Nektar Therapeutics has a 1 year low of $3.02 and a 1 year high of $19.37. The firm has a market cap of $712.14 million, a price-to-earnings ratio of -1.34 and a beta of 1.16. The company has a fifty day moving average price of $4.15 and a 200-day moving average price of $4.98.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. StockNews.com upgraded shares of Nektar Therapeutics from a "sell" rating to a "hold" rating in a research note on Thursday, August 11th. JPMorgan Chase & Co. lowered shares of Nektar Therapeutics from a "neutral" rating to an "underweight" rating in a research note on Monday, August 8th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $13.17.

Insider Activity at Nektar Therapeutics

In related news, insider Jonathan Zalevsky sold 73,716 shares of the stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $4.65, for a total transaction of $342,779.40. Following the completion of the transaction, the insider now owns 327,123 shares in the company, valued at $1,521,121.95. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Nektar Therapeutics news, CEO Howard W. Robin sold 13,759 shares of the stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $4.76, for a total transaction of $65,492.84. Following the completion of the transaction, the chief executive officer now owns 1,017,807 shares in the company, valued at $4,844,761.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jonathan Zalevsky sold 73,716 shares of the stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $4.65, for a total transaction of $342,779.40. Following the transaction, the insider now owns 327,123 shares of the company's stock, valued at approximately $1,521,121.95. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 103,230 shares of company stock worth $483,266. 3.38% of the stock is owned by company insiders.

Nektar Therapeutics Profile

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Nektar Therapeutics, a biopharmaceutical company, focuses on discovering and developing medicines in areas of unmet medical need in the United States and internationally. The company's products include Bempegaldesleukin, a CD122-preferential interleukin-2 (IL-2) pathway agonist, which is in phase 3 clinical trial to treat metastatic melanoma, renal cell carcinoma, muscle-invasive bladder cancer, squamous cell carcinoma of the head and neck, and adjuvant melanoma; phase 2 clinical trial for the treatment of renal cell carcinoma, non-small cell lung cancer, and urothelial cancer; phase 1/2A clinical trial to treat squamous cell carcinoma of the head and neck; phase 1/2 clinical trial for the treatment of solid tumors; and phase 1B clinical trial to treat COVID-19.

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