Monashee Investment Management LLC Invests $3.98 Million in Nektar Therapeutics $NKTR

Monashee Investment Management LLC bought a new position in shares of Nektar Therapeutics (NASDAQ:NKTR) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 94,134 shares of the biopharmaceutical company’s stock, valued at approximately $3,980,000. Nektar Therapeutics makes up 2.2% of Monashee Investment Management LLC’s investment portfolio, making the stock its 18th largest position. Monashee Investment Management LLC owned approximately 0.46% of Nektar Therapeutics at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of NKTR. BNP Paribas Financial Markets lifted its holdings in Nektar Therapeutics by 93.8% in the third 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 period. Deutsche Bank AG lifted its holdings in Nektar Therapeutics by 0.8% in the fourth quarter. Deutsche Bank AG now owns 90,743 shares of the biopharmaceutical company’s stock valued at $3,837,000 after buying an additional 743 shares during the period. Bayforest Capital Ltd lifted its holdings in Nektar Therapeutics by 51.3% in the fourth quarter. Bayforest Capital Ltd now owns 2,541 shares of the biopharmaceutical company’s stock valued at $107,000 after buying an additional 862 shares during the period. FNY Investment Advisers LLC lifted its holdings in Nektar Therapeutics by 70.6% in the third quarter. FNY Investment Advisers LLC now owns 2,602 shares of the biopharmaceutical company’s stock valued at $148,000 after buying an additional 1,077 shares during the period. Finally, Bessemer Group Inc. lifted its holdings in Nektar Therapeutics by 1,741.2% in the third 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 period. 75.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. TD Cowen assumed coverage on shares of Nektar Therapeutics in a report on Tuesday, March 17th. They issued a “buy” rating on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nektar Therapeutics in a report on Tuesday, June 2nd. Piper Sandler increased their target price on shares of Nektar Therapeutics from $105.00 to $192.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. B. Riley Financial reiterated a “buy” rating and issued a $150.00 target price (up from $105.00) on shares of Nektar Therapeutics in a report on Monday, February 23rd. Finally, Oppenheimer reiterated an “outperform” rating and issued a $140.00 target price on shares of Nektar Therapeutics in a report on Friday, March 13th. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Nektar Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $149.63.

Insider Activity

In other news, CEO Howard W. Robin sold 444 shares of the stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $65.51, for a total transaction of $29,086.44. Following the completion of the sale, the chief executive officer owned 75,045 shares of the company’s stock, valued at $4,916,197.95. This represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.50% of the stock is owned by corporate insiders.

Nektar Therapeutics Stock Up 4.3%

Shares of NKTR stock opened at $59.21 on Friday. The firm has a fifty day moving average of $74.92 and a 200-day moving average of $62.24. Nektar Therapeutics has a 12-month low of $7.99 and a 12-month high of $109.00. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of -7.03 and a beta of 1.13.

Nektar Therapeutics (NASDAQ:NKTR) last issued its quarterly earnings data 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 company had revenue of $10.86 million for the quarter, compared to the consensus estimate of $10.69 million. On average, equities analysts expect that Nektar Therapeutics will post -9.45 EPS for the current year.

Nektar Therapeutics Company Profile

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.