State Street Corp Raises Holdings in Nektar Therapeutics (NASDAQ:NKTR)

State Street Corp increased its stake in shares of Nektar Therapeutics (NASDAQ:NKTR) by 3.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,419,493 shares of the biopharmaceutical company’s stock after acquiring an additional 276,983 shares during the quarter. State Street Corp’s holdings in Nektar Therapeutics were worth $135,146,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of NKTR. Aperio Group LLC lifted its position in Nektar Therapeutics by 8.3% in the second quarter. Aperio Group LLC now owns 44,069 shares of the biopharmaceutical company’s stock valued at $1,567,000 after purchasing an additional 3,360 shares during the last quarter. Financial Advisors Network Inc. raised its holdings in Nektar Therapeutics by 10.7% during the 2nd quarter. Financial Advisors Network Inc. now owns 32,582 shares of the biopharmaceutical company’s stock valued at $938,000 after buying an additional 3,154 shares during the last quarter. Atria Investments LLC bought a new stake in Nektar Therapeutics during the 2nd quarter valued at $240,000. Bank of New York Mellon Corp boosted its position in Nektar Therapeutics by 2.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,479,386 shares of the biopharmaceutical company’s stock valued at $52,637,000 after buying an additional 35,176 shares during the period. Finally, Bank of Montreal Can boosted its position in Nektar Therapeutics by 12.1% during the 2nd quarter. Bank of Montreal Can now owns 177,727 shares of the biopharmaceutical company’s stock valued at $6,323,000 after buying an additional 19,184 shares during the period. Institutional investors and hedge funds own 99.77% of the company’s stock.

Shares of NKTR opened at $20.45 on Friday. Nektar Therapeutics has a 1-year low of $15.64 and a 1-year high of $47.11. The company has a current ratio of 12.60, a quick ratio of 12.49 and a debt-to-equity ratio of 0.26. The firm’s 50-day moving average price is $18.97 and its 200-day moving average price is $24.47. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of 5.41 and a beta of 2.61.

Nektar Therapeutics (NASDAQ:NKTR) last released its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.73) by $0.17. Nektar Therapeutics had a negative net margin of 352.83% and a negative return on equity of 26.60%. The company had revenue of $29.22 million during the quarter, compared to the consensus estimate of $26.42 million. During the same period in the prior year, the firm earned ($0.56) earnings per share. Nektar Therapeutics’s revenue was up 5.3% on a year-over-year basis. On average, research analysts forecast that Nektar Therapeutics will post -2.56 EPS for the current fiscal year.

A number of equities analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Nektar Therapeutics from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Monday, November 11th. HC Wainwright increased their target price on shares of Nektar Therapeutics from $24.00 to $32.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Evercore ISI reissued a “hold” rating and issued a $37.00 target price on shares of Nektar Therapeutics in a research note on Sunday, August 11th. Jefferies Financial Group downgraded Nektar Therapeutics from a “buy” rating to a “hold” rating and reduced their price target for the company from $59.00 to $23.00 in a report on Friday, August 9th. Finally, Oppenheimer assumed coverage on Nektar Therapeutics in a research report on Thursday, October 24th. They set a “market perform” rating and a $18.00 price target for the company. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $30.00.

In related news, CEO Howard W. Robin sold 33,334 shares of Nektar Therapeutics stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $17.48, for a total transaction of $582,678.32. Following the sale, the chief executive officer now directly owns 346,108 shares in the company, valued at $6,049,967.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Katharina Otto-Bernstein sold 29,127 shares of Nektar Therapeutics stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $36.72, for a total value of $1,069,543.44. Insiders have sold a total of 175,178 shares of company stock worth $3,738,898 in the last quarter. Company insiders own 4.02% of the company’s stock.

Nektar Therapeutics Company Profile

Nektar Therapeutics, a biopharmaceutical company, develops drug candidates for cancer, auto-immune disease, and chronic pain in the United States. The company develops NKTR-181, an orally-available mu-opioid analgesic molecule, which is in Phase III clinical trial for moderate to severe chronic pain; ONZEALD, a topoisomerase I inhibitor that is in Phase III clinical trial for advanced metastatic breast cancer in patients with brain metastases; and NKTR-214, a CD122-preferential interleukin-2 (IL-2) pathway agonist, which is in Phase I to treat immuno-oncology.

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Institutional Ownership by Quarter for Nektar Therapeutics (NASDAQ:NKTR)

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