Monaco Asset Management SAM Sells 3,665,133 Shares of Nektar Therapeutics (NASDAQ:NKTR)

Monaco Asset Management SAM decreased its stake in shares of Nektar Therapeutics (NASDAQ:NKTR) by 62.8% during the second quarter, HoldingsChannel.com reports. The firm owned 2,166,432 shares of the biopharmaceutical company’s stock after selling 3,665,133 shares during the period. Nektar Therapeutics accounts for 0.4% of Monaco Asset Management SAM’s portfolio, making the stock its 22nd largest position. Monaco Asset Management SAM’s holdings in Nektar Therapeutics were worth $2,686,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in NKTR. Victory Capital Management Inc. purchased a new stake in shares of Nektar Therapeutics in the second quarter worth about $29,000. Values First Advisors Inc. bought a new stake in Nektar Therapeutics during the 2nd quarter worth approximately $56,000. State Board of Administration of Florida Retirement System bought a new stake in Nektar Therapeutics during the 1st quarter worth approximately $63,000. SG Americas Securities LLC lifted its stake in Nektar Therapeutics by 63.0% in the 2nd quarter. SG Americas Securities LLC now owns 73,352 shares of the biopharmaceutical company’s stock worth $91,000 after purchasing an additional 28,338 shares in the last quarter. Finally, Candriam S.C.A. bought a new position in Nektar Therapeutics in the 2nd quarter valued at $99,000. Institutional investors own 75.88% of the company’s stock.

Nektar Therapeutics Trading Up 5.4 %

NKTR stock opened at $1.18 on Tuesday. The company’s 50 day moving average is $1.28 and its 200 day moving average is $1.26. The stock has a market cap of $217.21 million, a price-to-earnings ratio of -1.28 and a beta of 0.60. Nektar Therapeutics has a 1-year low of $0.41 and a 1-year high of $1.93.

Nektar Therapeutics (NASDAQ:NKTR) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.04). The company had revenue of $23.49 million during the quarter, compared to the consensus estimate of $17.24 million. Nektar Therapeutics had a negative return on equity of 133.64% and a negative net margin of 190.09%. During the same period in the previous year, the company earned ($0.27) EPS. As a group, sell-side analysts forecast that Nektar Therapeutics will post -0.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Rodman & Renshaw assumed coverage on shares of Nektar Therapeutics in a report on Friday, June 28th. They issued a “buy” rating and a $2.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $1.50.

About Nektar Therapeutics

Nektar Therapeutics, a biopharmaceutical company, focuses on discovering and developing medicines in the field of immunotherapy in the United States and internationally. The company is developing rezpegaldesleukin, a cytokine Treg stimulant that is in phase 2 clinical trial for the treatment of systemic lupus erythematosus and ulcerative colitis, as well as phase 2b clinical trial to treat atopic dermatitis and psoriasis; and NKTR-255, an IL-15 receptor agonist, which is in phase 1 clinical trial to boost the immune system's natural ability to fight cancer.