Balyasny Asset Management LLC boosted its stake in Nektar Therapeutics (NASDAQ:NKTR) by 16.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 511,013 shares of the biopharmaceutical company’s stock after acquiring an additional 73,191 shares during the period. Balyasny Asset Management LLC owned 0.33% of Nektar Therapeutics worth $9,990,000 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. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Nektar Therapeutics by 14.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,603 shares of the biopharmaceutical company’s stock worth $110,000 after acquiring an additional 692 shares during the period. LS Investment Advisors LLC lifted its stake in Nektar Therapeutics by 8.8% in the 2nd quarter. LS Investment Advisors LLC now owns 6,594 shares of the biopharmaceutical company’s stock valued at $129,000 after buying an additional 535 shares in the last quarter. Riverhead Capital Management LLC lifted its stake in Nektar Therapeutics by 78.7% in the 2nd quarter. Riverhead Capital Management LLC now owns 8,754 shares of the biopharmaceutical company’s stock valued at $171,000 after buying an additional 3,854 shares in the last quarter. World Asset Management Inc lifted its stake in Nektar Therapeutics by 5.6% in the 2nd quarter. World Asset Management Inc now owns 10,167 shares of the biopharmaceutical company’s stock valued at $199,000 after buying an additional 539 shares in the last quarter. Finally, Fortaleza Asset Management Inc. lifted its stake in Nektar Therapeutics by 25.0% in the 2nd quarter. Fortaleza Asset Management Inc. now owns 10,250 shares of the biopharmaceutical company’s stock valued at $200,000 after buying an additional 2,050 shares in the last quarter. Institutional investors own 95.08% of the company’s stock.
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NKTR has been the topic of several research reports. HC Wainwright assumed coverage on Nektar Therapeutics in a report on Monday, August 7th. They issued a “buy” rating and a $31.00 price target for the company. BidaskClub upgraded Nektar Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, August 17th. William Blair restated an “outperform” rating on shares of Nektar Therapeutics in a research note on Monday, June 26th. Jefferies Group LLC restated a “buy” rating and set a $23.00 target price on shares of Nektar Therapeutics in a research note on Friday, August 18th. Finally, Mizuho started coverage on Nektar Therapeutics in a research note on Tuesday, September 26th. They set a “buy” rating and a $30.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $26.80.
In other news, Director Christopher A. Kuebler sold 4,000 shares of the company’s stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $21.86, for a total value of $87,440.00. Following the completion of the sale, the director now owns 40,500 shares in the company, valued at approximately $885,330. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Stephen K. Doberstein sold 43,677 shares of the business’s stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $24.97, for a total transaction of $1,090,614.69. The disclosure for this sale can be found here. Insiders have sold a total of 594,903 shares of company stock valued at $13,547,340 in the last 90 days. 6.10% of the stock is currently owned by company insiders.
Nektar Therapeutics (NASDAQ NKTR) opened at 23.20 on Friday. The firm has a 50-day moving average of $22.48 and a 200 day moving average of $20.42. Nektar Therapeutics has a 52-week low of $11.41 and a 52-week high of $25.02. The firm’s market cap is $3.63 billion.
Nektar Therapeutics (NASDAQ:NKTR) last announced its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.39) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.04). The business had revenue of $34.60 million for the quarter, compared to the consensus estimate of $33.64 million. Nektar Therapeutics had a negative net margin of 157.14% and a negative return on equity of 1,223.34%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.36) EPS. On average, equities research analysts forecast that Nektar Therapeutics will post ($0.98) earnings per share for the current year.
Nektar Therapeutics Profile
Nektar Therapeutics is a biopharmaceutical company that discovers and develops medicines in areas of high unmet medical need. The Company’s research and development pipeline of new investigational drugs includes treatments for cancer, auto-immune disease and chronic pain. It leverages its chemistry platform to discover and design new drug candidates.
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