Nektar Therapeutics (NKTR) Shares Bought by California Public Employees Retirement System

California Public Employees Retirement System increased its stake in Nektar Therapeutics (NASDAQ:NKTR) by 2.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 195,200 shares of the biopharmaceutical company’s stock after buying an additional 4,300 shares during the period. California Public Employees Retirement System owned 0.12% of Nektar Therapeutics worth $4,685,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. grew its holdings in Nektar Therapeutics by 3.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 654,847 shares of the biopharmaceutical company’s stock worth $12,803,000 after purchasing an additional 21,250 shares during the period. Prudential Financial Inc. grew its holdings in shares of Nektar Therapeutics by 1.1% during the second quarter. Prudential Financial Inc. now owns 265,153 shares of the biopharmaceutical company’s stock valued at $5,184,000 after buying an additional 2,910 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Nektar Therapeutics by 14.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,603 shares of the biopharmaceutical company’s stock valued at $110,000 after buying an additional 692 shares during the last quarter. Swiss National Bank grew its holdings in shares of Nektar Therapeutics by 1.5% during the second quarter. Swiss National Bank now owns 255,800 shares of the biopharmaceutical company’s stock valued at $5,001,000 after buying an additional 3,900 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of Nektar Therapeutics by 10.6% during the second quarter. Alliancebernstein L.P. now owns 231,237 shares of the biopharmaceutical company’s stock valued at $4,521,000 after buying an additional 22,100 shares during the last quarter. 96.01% of the stock is owned by institutional investors.

Nektar Therapeutics (NKTR) opened at $72.00 on Tuesday. Nektar Therapeutics has a 52 week low of $11.41 and a 52 week high of $73.95. The company has a current ratio of 4.14, a quick ratio of 3.99 and a debt-to-equity ratio of 2.91. The company has a market cap of $11,337.67, a PE ratio of -100.00 and a beta of 1.81.

Nektar Therapeutics (NASDAQ:NKTR) last released its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.16. Nektar Therapeutics had a negative net margin of 42.08% and a negative return on equity of 190.68%. The firm had revenue of $152.90 million during the quarter, compared to analysts’ expectations of $126.50 million. During the same period in the previous year, the company earned ($0.32) EPS. The firm’s revenue for the quarter was up 321.2% compared to the same quarter last year. analysts predict that Nektar Therapeutics will post -0.75 earnings per share for the current year.

A number of equities research analysts have recently commented on NKTR shares. Canaccord Genuity reiterated a “buy” rating and set a $80.00 price target (up previously from $50.00) on shares of Nektar Therapeutics in a report on Wednesday, January 10th. Mizuho raised their target price on shares of Nektar Therapeutics from $30.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, November 14th. Jefferies Group reiterated a “buy” rating and issued a $35.00 price target on shares of Nektar Therapeutics in a research report on Wednesday, November 8th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $44.00 price target on shares of Nektar Therapeutics in a research report on Monday, November 13th. Finally, Zacks Investment Research downgraded shares of Nektar Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. Two analysts have rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $42.50.

In other news, SVP Stephen K. Doberstein sold 396,323 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $29.00, for a total value of $11,493,367.00. Following the completion of the sale, the senior vice president now owns 52,016 shares in the company, valued at approximately $1,508,464. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Maninder Hora sold 5,117 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $25.07, for a total transaction of $128,283.19. Following the completion of the sale, the senior vice president now owns 52,016 shares of the company’s stock, valued at approximately $1,304,041.12. The disclosure for this sale can be found here. Insiders have sold a total of 614,017 shares of company stock valued at $20,587,527 in the last quarter. 5.44% of the stock is currently owned by company insiders.

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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.

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

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