Piedmont Investment Advisors LLC Increases Stake in Nektar Therapeutics (NKTR)

Piedmont Investment Advisors LLC grew its stake in shares of Nektar Therapeutics (NASDAQ:NKTR) by 264.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,545 shares of the biopharmaceutical company’s stock after buying an additional 24,344 shares during the period. Piedmont Investment Advisors LLC’s holdings in Nektar Therapeutics were worth $656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in NKTR. UBS Asset Management Americas Inc. raised its position in shares of Nektar Therapeutics by 4.5% during the first quarter. UBS Asset Management Americas Inc. now owns 99,156 shares of the biopharmaceutical company’s stock valued at $2,327,000 after buying an additional 4,302 shares during the last quarter. Prudential Financial Inc. increased its position in Nektar Therapeutics by 1.1% in the first quarter. Prudential Financial Inc. now owns 262,243 shares of the biopharmaceutical company’s stock worth $6,155,000 after purchasing an additional 2,890 shares during the last quarter. Stifel Financial Corp increased its position in Nektar Therapeutics by 12.1% in the first quarter. Stifel Financial Corp now owns 29,111 shares of the biopharmaceutical company’s stock worth $684,000 after purchasing an additional 3,138 shares during the last quarter. FMR LLC increased its position in Nektar Therapeutics by 42.4% in the first quarter. FMR LLC now owns 1,947,644 shares of the biopharmaceutical company’s stock worth $45,711,000 after purchasing an additional 580,341 shares during the last quarter. Finally, Teachers Advisors LLC increased its position in Nektar Therapeutics by 103.8% in the first quarter. Teachers Advisors LLC now owns 663,324 shares of the biopharmaceutical company’s stock worth $15,568,000 after purchasing an additional 337,868 shares during the last quarter. Hedge funds and other institutional investors own 95.12% of the company’s stock.

In related news, SVP Stephen K. Doberstein sold 43,677 shares of the stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $24.97, for a total value of $1,090,614.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Roy A. Whitfield purchased 35,000 shares of Nektar Therapeutics stock in a transaction that occurred on Thursday, August 10th. The stock was acquired at an average cost of $17.95 per share, with a total value of $628,250.00. Following the acquisition, the director now directly owns 133,000 shares of the company’s stock, valued at approximately $2,387,350. The disclosure for this purchase can be found here. Insiders sold 539,983 shares of company stock valued at $12,388,528 in the last three months. 6.10% of the stock is currently owned by company insiders.

Shares of Nektar Therapeutics (NASDAQ NKTR) traded up 1.44% during trading on Friday, reaching $24.00. 344,408 shares of the company’s stock were exchanged. The company’s market capitalization is $3.75 billion. The stock has a 50-day moving average price of $23.19 and a 200 day moving average price of $20.53. Nektar Therapeutics has a 12-month low of $11.41 and a 12-month high of $25.02.

Nektar Therapeutics (NASDAQ:NKTR) last issued its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.04). The company had revenue of $34.60 million during the quarter, compared to analysts’ expectations of $33.64 million. Nektar Therapeutics had a negative return on equity of 1,223.34% and a negative net margin of 157.14%. Nektar Therapeutics’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.36) EPS. Equities analysts expect that Nektar Therapeutics will post ($0.98) EPS for the current fiscal year.

Several equities research analysts recently weighed in on NKTR shares. HC Wainwright started coverage on shares of Nektar Therapeutics in a research report on Monday, August 7th. They issued a “buy” rating and a $31.00 price target on the stock. BidaskClub raised shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. Jefferies Group LLC reissued a “buy” rating and set a $23.00 target price on shares of Nektar Therapeutics in a research note on Friday, August 18th. Mizuho initiated coverage on shares of Nektar Therapeutics in a research note on Tuesday, September 26th. They set a “buy” rating and a $30.00 target price for the company. Finally, ValuEngine raised shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $26.80.

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About Nektar Therapeutics

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.

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

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