BIT Capital GmbH Makes New $892,000 Investment in Nektar Therapeutics $NKTR

BIT Capital GmbH bought a new position in Nektar Therapeutics (NASDAQ:NKTR) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 21,100 shares of the biopharmaceutical company’s stock, valued at approximately $892,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Farallon Capital Management LLC bought a new position in Nektar Therapeutics during the third quarter valued at $45,008,000. Readystate Asset Management LP bought a new position in Nektar Therapeutics during the third quarter valued at $2,563,000. Hudson Bay Capital Management LP bought a new position in Nektar Therapeutics during the third quarter valued at $6,127,000. Propel Bio Management LLC bought a new position in Nektar Therapeutics during the third quarter valued at $2,788,000. Finally, Persistent Asset Partners Ltd bought a new position in Nektar Therapeutics during the third quarter valued at $983,000. Hedge funds and other institutional investors own 75.88% of the company’s stock.

Nektar Therapeutics Trading Down 3.4%

NASDAQ NKTR opened at $57.32 on Friday. The company’s 50-day moving average price is $75.88 and its 200-day moving average price is $62.22. The stock has a market cap of $1.94 billion, a PE ratio of -6.81 and a beta of 1.13. Nektar Therapeutics has a 12 month low of $7.99 and a 12 month high of $109.00.

Nektar Therapeutics (NASDAQ:NKTR) last posted its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $10.69 million. As a group, sell-side analysts forecast that Nektar Therapeutics will post -9.45 earnings per share for the current year.

Insider Transactions at Nektar Therapeutics

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on NKTR. Wedbush cut their price objective on shares of Nektar Therapeutics from $95.00 to $80.00 and set a “neutral” rating on the stock in a research report on Monday, May 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nektar Therapeutics in a research report on Tuesday. Jefferies Financial Group reiterated a “buy” rating on shares of Nektar Therapeutics in a research report on Wednesday, April 22nd. Piper Sandler upped their price target 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. Finally, Wall Street Zen upgraded shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Nektar Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $149.63.

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.