Metropolitan Life Insurance Co. NY cut its position in shares of Nektar Therapeutics (NASDAQ:NKTR) by 2.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,982 shares of the biopharmaceutical company’s stock after selling 2,142 shares during the period. Metropolitan Life Insurance Co. NY owned about 0.06% of Nektar Therapeutics worth $2,323,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Russell Investments Group Ltd. purchased a new stake in shares of Nektar Therapeutics during the fourth quarter worth approximately $979,000. GSA Capital Partners LLP purchased a new stake in shares of Nektar Therapeutics during the fourth quarter worth approximately $308,000. Thrivent Financial for Lutherans raised its stake in shares of Nektar Therapeutics by 16.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 82,150 shares of the biopharmaceutical company’s stock worth $1,008,000 after buying an additional 11,770 shares during the period. Norges Bank purchased a new stake in shares of Nektar Therapeutics during the fourth quarter worth approximately $31,574,000. Finally, Teachers Advisors LLC raised its stake in shares of Nektar Therapeutics by 17.1% in the fourth quarter. Teachers Advisors LLC now owns 325,456 shares of the biopharmaceutical company’s stock worth $3,993,000 after buying an additional 47,492 shares during the period. Institutional investors own 93.85% of the company’s stock.

Shares of Nektar Therapeutics (NASDAQ NKTR) opened at 20.66 on Tuesday. Nektar Therapeutics has a 52-week low of $11.41 and a 52-week high of $24.88. The firm’s market cap is $3.21 billion. The company has a 50 day moving average price of $19.35 and a 200-day moving average price of $16.66.

Nektar Therapeutics (NASDAQ:NKTR) last posted its earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($0.42) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by $0.02. Nektar Therapeutics had a negative return on equity of 3,072.86% and a negative net margin of 150.74%. The firm had revenue of $24.73 million for the quarter, compared to the consensus estimate of $29.43 million. During the same period in the prior year, the business earned ($0.14) EPS. Nektar Therapeutics’s quarterly revenue was down 58.0% compared to the same quarter last year. On average, analysts expect that Nektar Therapeutics will post ($1.19) earnings per share for the current fiscal year.

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A number of analysts have recently commented on NKTR shares. Roth Capital set a $31.00 price target on Nektar Therapeutics and gave the company a “buy” rating in a report on Monday, March 20th. Aegis boosted their price target on Nektar Therapeutics from $21.00 to $24.00 and gave the company a “buy” rating in a report on Monday, March 20th. Jefferies Group LLC boosted their price target on Nektar Therapeutics from $17.00 to $25.00 and gave the company a “positive” rating in a report on Tuesday, March 21st. J P Morgan Chase & Co set a $24.00 target price on Nektar Therapeutics and gave the company a “buy” rating in a research report on Tuesday, March 21st. Finally, BTIG Research lifted their target price on Nektar Therapeutics from $22.00 to $27.00 and gave the company a “positive” rating in a research report on Tuesday, March 21st. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $25.25.

In other Nektar Therapeutics news, Director Robert Chess sold 5,000 shares of Nektar Therapeutics stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $19.79, for a total transaction of $98,950.00. Following the transaction, the director now owns 276,623 shares of the company’s stock, valued at approximately $5,474,369.17. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Ivan P. Gergel sold 45,080 shares of Nektar Therapeutics stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $21.08, for a total transaction of $950,286.40. Following the transaction, the senior vice president now directly owns 51,961 shares in the company, valued at approximately $1,095,337.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 74,883 shares of company stock worth $1,546,635. Insiders own 5.44% of the company’s stock.

Nektar Therapeutics Company 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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