Amalgamated Bank Grows Holdings in Nektar Therapeutics (NKTR)
Amalgamated Bank raised its position in shares of Nektar Therapeutics (NASDAQ:NKTR) by 6.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,775 shares of the biopharmaceutical company’s stock after purchasing an additional 1,298 shares during the period. Amalgamated Bank’s holdings in Nektar Therapeutics were worth $1,300,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NKTR. Janus Henderson Group PLC raised its position in Nektar Therapeutics by 87.8% during the third quarter. Janus Henderson Group PLC now owns 3,329,281 shares of the biopharmaceutical company’s stock valued at $79,903,000 after purchasing an additional 1,556,352 shares in the last quarter. Eagle Asset Management Inc. purchased a new stake in Nektar Therapeutics during the fourth quarter valued at about $61,577,000. Rubric Capital Management LP purchased a new stake in Nektar Therapeutics during the third quarter valued at about $23,924,000. Carillon Tower Advisers Inc. purchased a new stake in Nektar Therapeutics during the fourth quarter valued at about $43,024,000. Finally, BlackRock Inc. raised its position in Nektar Therapeutics by 2.1% during the fourth quarter. BlackRock Inc. now owns 21,431,388 shares of the biopharmaceutical company’s stock valued at $1,279,883,000 after purchasing an additional 431,269 shares in the last quarter. Institutional investors and hedge funds own 94.96% of the company’s stock.
Nektar Therapeutics (NASDAQ:NKTR) opened at $108.34 on Monday. The company has a market capitalization of $17,430.00, a PE ratio of -169.28 and a beta of 1.96. The company has a quick ratio of 5.63, a current ratio of 5.82 and a debt-to-equity ratio of 2.79. Nektar Therapeutics has a twelve month low of $14.96 and a twelve month high of $109.32.
A number of equities research analysts have weighed in on the company. Zacks Investment Research upgraded Nektar Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, February 21st. BidaskClub downgraded Nektar Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 8th. Canaccord Genuity Group lifted their price objective on Nektar Therapeutics from $35.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, November 15th. Jefferies Group lifted their price objective on Nektar Therapeutics to $103.00 and gave the stock a “buy” rating in a report on Friday, March 2nd. Finally, Mizuho reiterated a “buy” rating and issued a $89.00 price objective on shares of Nektar Therapeutics in a report on Wednesday, February 14th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $52.62.
In related news, Director Christopher A. Kuebler sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $58.66, for a total value of $1,759,800.00. Following the sale, the director now directly owns 70,500 shares of the company’s stock, valued at $4,135,530. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher A. Kuebler sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $97.60, for a total value of $3,904,000.00. Following the completion of the sale, the director now directly owns 43,100 shares in the company, valued at $4,206,560. The disclosure for this sale can be found here. Insiders sold 482,925 shares of company stock worth $40,642,596 over the last three months. 6.10% of the stock is owned by insiders.
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About Nektar Therapeutics
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.
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