Sectoral Asset Management Inc. Takes Position in Nektar Therapeutics $NKTR

Sectoral Asset Management Inc. acquired a new stake in Nektar Therapeutics (NASDAQ:NKTR) in the 4th quarter, HoldingsChannel reports. The fund acquired 13,485 shares of the biopharmaceutical company’s stock, valued at approximately $570,000.

Other large investors also recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its holdings in shares of Nektar Therapeutics by 93.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 210 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Nektar Therapeutics in the 2nd quarter valued at approximately $65,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Nektar Therapeutics in the 1st quarter valued at approximately $68,000. Compass Wealth Management LLC acquired a new stake in shares of Nektar Therapeutics in the 3rd quarter valued at approximately $88,000. Finally, Bessemer Group Inc. boosted its holdings in shares of Nektar Therapeutics by 1,741.2% in the 3rd quarter. Bessemer Group Inc. now owns 1,565 shares of the biopharmaceutical company’s stock valued at $90,000 after buying an additional 1,480 shares during the last quarter. Institutional investors and hedge funds own 75.88% of the company’s stock.

Nektar Therapeutics Price Performance

Shares of NASDAQ:NKTR opened at $66.61 on Monday. The company has a market capitalization of $2.25 billion, a P/E ratio of -7.91 and a beta of 1.24. The business’s 50 day simple moving average is $77.98 and its 200 day simple moving average is $61.82. Nektar Therapeutics has a 1 year low of $7.99 and a 1 year high of $109.00.

Nektar Therapeutics (NASDAQ:NKTR) last posted its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.58) by ($0.24). Nektar Therapeutics had a negative return on equity of 85.40% and a negative net margin of 284.18%.The firm had revenue of $10.86 million for the quarter, compared to analyst estimates of $10.69 million. On average, sell-side analysts anticipate that Nektar Therapeutics will post -9.65 EPS for the current fiscal year.

Insider Buying and Selling at Nektar Therapeutics

In other news, CEO Howard W. Robin sold 444 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $65.51, for a total transaction of $29,086.44. Following the sale, the chief executive officer directly owned 75,045 shares in the company, valued at approximately $4,916,197.95. The trade was a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. B. Riley Financial reissued a “buy” rating and issued a $150.00 price objective (up from $105.00) on shares of Nektar Therapeutics in a report on Monday, February 23rd. Piper Sandler increased their price objective on Nektar Therapeutics from $105.00 to $192.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Citigroup raised their price target on Nektar Therapeutics from $123.00 to $151.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. HC Wainwright raised their price target on Nektar Therapeutics from $165.00 to $185.00 and gave the company a “buy” rating in a report on Monday, April 20th. Finally, Wedbush cut their price target on Nektar Therapeutics from $95.00 to $80.00 and set a “neutral” rating for the company in a report on Monday, May 11th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $149.63.

About Nektar Therapeutics

Nektar Therapeutics (NASDAQ:NKTR) is a biopharmaceutical company dedicated to discovering and developing novel drug candidates through its proprietary chemistry and immunology platforms. The company focuses on polymer conjugate technology, which enables the creation of longer-acting versions of existing drugs, and on T-cell modulatory therapies aimed at harnessing the body’s immune system to treat cancer and other serious diseases.

Nektar’s product portfolio and pipeline include a range of clinical-stage and partnered programs.