Erste Asset Management GmbH Acquires 11,000 Shares of Nektar Therapeutics $NKTR

Erste Asset Management GmbH increased its holdings in shares of Nektar Therapeutics (NASDAQ:NKTR) by 64.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 28,000 shares of the biopharmaceutical company’s stock after buying an additional 11,000 shares during the period. Erste Asset Management GmbH’s holdings in Nektar Therapeutics were worth $1,196,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BNP Paribas Financial Markets boosted its stake in shares of Nektar Therapeutics by 93.8% during the third quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 210 shares in the last quarter. Compass Wealth Management LLC bought a new position in shares of Nektar Therapeutics during the third quarter valued at approximately $88,000. Bessemer Group Inc. boosted its stake in shares of Nektar Therapeutics by 1,741.2% during the third quarter. Bessemer Group Inc. now owns 1,565 shares of the biopharmaceutical company’s stock valued at $90,000 after purchasing an additional 1,480 shares in the last quarter. Flagship Harbor Advisors LLC bought a new position in shares of Nektar Therapeutics during the fourth quarter valued at approximately $92,000. Finally, Headlands Technologies LLC bought a new position in shares of Nektar Therapeutics during the second quarter valued at approximately $65,000. 75.88% of the stock is currently owned by institutional investors.

Nektar Therapeutics Price Performance

Shares of Nektar Therapeutics stock opened at $56.78 on Thursday. The firm has a fifty day moving average price of $75.18 and a 200 day moving average price of $62.20. Nektar Therapeutics has a 1 year low of $7.99 and a 1 year high of $109.00. The stock has a market cap of $1.92 billion, a PE ratio of -6.74 and a beta of 1.13.

Nektar Therapeutics (NASDAQ:NKTR) last issued its earnings results 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 business had revenue of $10.86 million for the quarter, compared to analysts’ expectations of $10.69 million. As a group, equities analysts expect that Nektar Therapeutics will post -9.45 EPS for the current year.

Insider Activity

In related news, CEO Howard W. Robin sold 444 shares of the firm’s 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 transaction, the chief executive officer owned 75,045 shares of the company’s stock, valued at $4,916,197.95. This trade represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 currently owned by company insiders.

Wall Street Analyst Weigh In

NKTR has been the subject of several recent analyst reports. TD Cowen initiated coverage on shares of Nektar Therapeutics in a research note on Tuesday, March 17th. They issued a “buy” rating for the company. Wall Street Zen upgraded shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Nektar Therapeutics in a research note on Tuesday, June 2nd. Piper Sandler raised their target price on shares of Nektar Therapeutics from $105.00 to $192.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Finally, HC Wainwright raised their target price on shares of Nektar Therapeutics from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Nine 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $149.63.

About Nektar Therapeutics

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.