Gainplan LLC Raises Position in Nektar Therapeutics $NKTR

Gainplan LLC increased its stake in Nektar Therapeutics (NASDAQ:NKTR) by 199.2% during the second quarter, HoldingsChannel reports. The firm owned 14,962 shares of the biopharmaceutical company’s stock after acquiring an additional 9,962 shares during the period. Gainplan LLC’s holdings in Nektar Therapeutics were worth $1,044,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. AQR Capital Management LLC increased its position 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 worth $2,463,000 after buying an additional 2,807,595 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Nektar Therapeutics during the 1st quarter valued at $68,000. Rhumbline Advisers grew its stake in shares of 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 acquiring an additional 41,948 shares during the period. Marshall Wace LLP bought a new position in shares of Nektar Therapeutics during the 2nd quarter worth $367,000. Finally, Headlands Technologies LLC purchased a new stake in Nektar Therapeutics in the 2nd quarter worth about $65,000. Hedge funds and other institutional investors own 75.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on NKTR shares. Piper Sandler boosted their price objective on Nektar Therapeutics from $105.00 to $192.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Canaccord Genuity Group began coverage on shares of Nektar Therapeutics in a research note on Wednesday, July 22nd. They issued a “buy” rating and a $153.00 target price for the company. HC Wainwright lifted their target price on shares of Nektar Therapeutics from $165.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Citigroup boosted their price target on shares of Nektar Therapeutics from $123.00 to $151.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. Finally, Wedbush dropped their price target on shares of Nektar Therapeutics from $95.00 to $80.00 and set a “neutral” rating on the stock in a research note on Monday, May 11th. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $150.00.

Nektar Therapeutics Stock Performance

Shares of NKTR opened at $73.09 on Thursday. The stock’s 50-day simple moving average is $66.04 and its 200 day simple moving average is $67.40. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of -8.68 and a beta of 1.14. Nektar Therapeutics has a 52-week low of $21.60 and a 52-week high of $109.00.

Nektar Therapeutics (NASDAQ:NKTR) last issued its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.82) 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 the consensus estimate of $10.69 million. Nektar Therapeutics had a negative return on equity of 85.40% and a negative net margin of 284.18%. On average, research analysts forecast that Nektar Therapeutics will post -9.37 earnings per share for the current fiscal year.

Insider Transactions at Nektar Therapeutics

In other news, insider Jonathan Zalevsky sold 5,681 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $70.00, for a total value of $397,670.00. Following the sale, the insider directly owned 9,756 shares of the company’s stock, valued at approximately $682,920. This represents a 36.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Howard W. Robin sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $60.32, for a total transaction of $603,200.00. Following the completion of the transaction, the chief executive officer owned 65,045 shares of the company’s stock, valued at $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. Over the last three months, insiders sold 21,862 shares of company stock worth $1,379,205. Insiders own 2.50% of the company’s stock.

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.