Orbimed Advisors LLC Purchases Shares of 275,000 Nektar Therapeutics $NKTR

Orbimed Advisors LLC purchased a new position in Nektar Therapeutics (NASDAQ:NKTR) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 275,000 shares of the biopharmaceutical company’s stock, valued at approximately $19,786,000.

A number of other large investors have also modified their holdings of the stock. AQR Capital Management LLC boosted its holdings in Nektar Therapeutics by 336.9% in the first quarter. AQR Capital Management LLC now owns 3,640,851 shares of the biopharmaceutical company’s stock valued at $2,463,000 after purchasing an additional 2,807,595 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in Nektar Therapeutics during the 1st quarter worth about $68,000. Rhumbline Advisers increased its holdings in Nektar Therapeutics by 23.3% during the 1st quarter. Rhumbline Advisers now owns 221,761 shares of the biopharmaceutical company’s stock worth $151,000 after purchasing an additional 41,948 shares during the period. Marshall Wace LLP acquired a new stake in Nektar Therapeutics in the 2nd quarter valued at about $367,000. Finally, Headlands Technologies LLC purchased a new position in shares of Nektar Therapeutics in the 2nd quarter valued at about $65,000. Hedge funds and other institutional investors own 75.88% of the company’s stock.

Nektar Therapeutics Price Performance

Shares of NASDAQ:NKTR opened at $70.72 on Monday. Nektar Therapeutics has a 12 month low of $21.02 and a 12 month high of $109.00. The firm has a market capitalization of $2.39 billion, a P/E ratio of -8.40 and a beta of 1.13. The company’s fifty day moving average price is $65.37 and its 200 day moving average price is $65.59.

Nektar Therapeutics (NASDAQ:NKTR) last released 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). The company had revenue of $10.86 million during the quarter, compared to analyst estimates of $10.69 million. Nektar Therapeutics had a negative net margin of 284.18% and a negative return on equity of 85.40%. On average, sell-side analysts anticipate that Nektar Therapeutics will post -9.37 EPS for the current year.

Analysts Set New Price Targets

NKTR has been the subject of a number of recent research reports. Wedbush decreased their price target on shares of Nektar Therapeutics from $95.00 to $80.00 and set a “neutral” rating for the company in a research note on Monday, May 11th. Piper Sandler raised their price objective on shares of Nektar Therapeutics from $105.00 to $192.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Citigroup boosted their target price on shares of Nektar Therapeutics from $123.00 to $151.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. HC Wainwright increased their target price on Nektar Therapeutics from $165.00 to $185.00 and gave the company a “buy” rating in a report on Monday, April 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Nektar Therapeutics in a research note on Tuesday, June 2nd. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $150.00.

Insider Activity

In other news, insider Jonathan Zalevsky sold 5,681 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $70.00, for a total value of $397,670.00. Following the completion of the sale, the insider directly owned 9,756 shares of the company’s stock, valued at approximately $682,920. The trade was a 36.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Howard W. Robin sold 10,000 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $60.32, for a total value of $603,200.00. Following the completion of the sale, the chief executive officer directly owned 65,045 shares of the company’s stock, valued at approximately $3,923,514.40. This trade represents a 13.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 21,862 shares of company stock valued at $1,379,205 over the last three months. Company insiders own 2.50% of the company’s stock.

Nektar Therapeutics 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.