Teachers Retirement System of The State of Kentucky boosted its holdings in Nektar Therapeutics (NASDAQ:NKTR – Get Rating) by 25.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,500 shares of the biopharmaceutical company's stock after purchasing an additional 11,900 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Nektar Therapeutics were worth $315,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Calton & Associates Inc. bought a new position in Nektar Therapeutics in the 1st quarter worth approximately $55,000. Verition Fund Management LLC bought a new position in shares of Nektar Therapeutics during the 1st quarter valued at approximately $55,000. Arete Wealth Advisors LLC bought a new position in shares of Nektar Therapeutics during the 1st quarter valued at approximately $59,000. Halbert Hargrove Global Advisors LLC bought a new position in shares of Nektar Therapeutics during the 1st quarter valued at approximately $61,000. Finally, X Square Capital LLC bought a new position in shares of Nektar Therapeutics during the 1st quarter valued at approximately $70,000. 96.99% of the stock is currently owned by institutional investors.
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In other Nektar Therapeutics news, Director Karin Eastham sold 21,267 shares of the firm's stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $3.61, for a total transaction of $76,773.87. Following the completion of the transaction, the director now owns 13,033 shares of the company's stock, valued at $47,049.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Nektar Therapeutics news, CEO Howard W. Robin sold 13,759 shares of the firm's stock in a transaction on Tuesday, August 16th. The stock was 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 of the company's stock, valued at $4,844,761.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Karin Eastham sold 21,267 shares of the firm's stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $3.61, for a total value of $76,773.87. Following the sale, the director now owns 13,033 shares in the company, valued at approximately $47,049.13. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 128,695 shares of company stock valued at $573,306. Corporate insiders own 3.38% of the company's stock.
Nektar Therapeutics Trading Down 1.9 %
Shares of NKTR stock opened at $3.08 on Tuesday. The company has a market cap of $577.21 million, a price-to-earnings ratio of -1.09 and a beta of 1.16. The stock has a 50 day simple moving average of $4.10 and a 200-day simple moving average of $4.26. Nektar Therapeutics has a 12-month low of $3.02 and a 12-month high of $19.37.Nektar Therapeutics (NASDAQ:NKTR – Get Rating) last released its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.85) earnings per share for the quarter, beating the consensus estimate of ($1.01) by $0.16. Nektar Therapeutics had a negative return on equity of 82.40% and a negative net margin of 544.77%. The firm had revenue of $21.59 million during the quarter, compared to the consensus estimate of $22.75 million. During the same period last year, the business posted ($0.69) EPS. Nektar Therapeutics's quarterly revenue was down 23.8% on a year-over-year basis. On average, equities analysts forecast that Nektar Therapeutics will post -2.14 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
NKTR has been the subject of a number of research reports. StockNews.com upgraded Nektar Therapeutics from a "sell" rating to a "hold" rating in a research report on Thursday, August 11th. JPMorgan Chase & Co. lowered Nektar Therapeutics from a "neutral" rating to an "underweight" rating in a report on Monday, August 8th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $13.17.
About Nektar Therapeutics
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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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