Nektar Therapeutics (NKTR) Holdings Trimmed by CIBC Asset Management Inc

CIBC Asset Management Inc cut its stake in shares of Nektar Therapeutics (NASDAQ:NKTR) by 51.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,415 shares of the biopharmaceutical company’s stock after selling 5,825 shares during the period. CIBC Asset Management Inc’s holdings in Nektar Therapeutics were worth $323,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NKTR. California Public Employees Retirement System lifted its stake in Nektar Therapeutics by 2.2% during the 2nd quarter. California Public Employees Retirement System now owns 190,900 shares of the biopharmaceutical company’s stock valued at $3,732,000 after acquiring an additional 4,100 shares in the last quarter. Parametric Portfolio Associates LLC lifted its stake in Nektar Therapeutics by 30.6% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 325,501 shares of the biopharmaceutical company’s stock valued at $6,364,000 after acquiring an additional 76,350 shares in the last quarter. Voya Investment Management LLC lifted its stake in Nektar Therapeutics by 20.1% during the 2nd quarter. Voya Investment Management LLC now owns 68,910 shares of the biopharmaceutical company’s stock valued at $1,347,000 after acquiring an additional 11,538 shares in the last quarter. Flinton Capital Management LLC raised its stake in shares of Nektar Therapeutics by 75.7% during the 2nd quarter. Flinton Capital Management LLC now owns 7,872 shares of the biopharmaceutical company’s stock worth $154,000 after purchasing an additional 3,392 shares during the period. Finally, Janus Henderson Group PLC bought a new stake in shares of Nektar Therapeutics during the 2nd quarter worth $34,661,000. Institutional investors and hedge funds own 96.00% of the company’s stock.

In related news, Director Christopher A. Kuebler sold 30,000 shares of Nektar Therapeutics stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $58.66, for a total value of $1,759,800.00. Following the completion of the sale, the director now owns 70,500 shares of the company’s stock, valued at approximately $4,135,530. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Howard W. Robin sold 83,333 shares of Nektar Therapeutics stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $75.82, for a total value of $6,318,308.06. Following the completion of the sale, the chief executive officer now directly owns 333,268 shares of the company’s stock, valued at approximately $25,268,379.76. The disclosure for this sale can be found here. In the last three months, insiders sold 196,666 shares of company stock valued at $12,718,923. 5.44% of the stock is currently owned by insiders.

NKTR has been the topic of a number of recent analyst reports. Canaccord Genuity Group lifted their target price on Nektar Therapeutics from $35.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, November 15th. Mizuho lifted their target price on Nektar Therapeutics from $30.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, November 14th. Canaccord Genuity lifted their target price on Nektar Therapeutics from $35.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, November 13th. Roth Capital set a $45.00 target price on Nektar Therapeutics and gave the stock a “buy” rating in a research note on Monday, November 13th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and set a $44.00 target price on shares of Nektar Therapeutics in a research note on Monday, November 13th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Nektar Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $46.17.

Shares of Nektar Therapeutics (NKTR) opened at $75.66 on Wednesday. Nektar Therapeutics has a twelve month low of $12.50 and a twelve month high of $99.02. The company has a debt-to-equity ratio of 2.91, a current ratio of 4.14 and a quick ratio of 3.99.

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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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