Burleson & Company LLC lessened its position in Nektar Therapeutics (NASDAQ:NKTR) by 98.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,612 shares of the biopharmaceutical company’s stock after selling 106,124 shares during the period. Burleson & Company LLC’s holdings in Nektar Therapeutics were worth $32,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of Nektar Therapeutics by 3.5% during the first quarter. BlackRock Inc. now owns 19,027,136 shares of the biopharmaceutical company’s stock valued at $380,543,000 after acquiring an additional 649,056 shares during the last quarter. Bellevue Group AG increased its position in Nektar Therapeutics by 2.3% during the 1st quarter. Bellevue Group AG now owns 3,954,604 shares of the biopharmaceutical company’s stock valued at $79,093,000 after purchasing an additional 88,346 shares during the period. Norges Bank bought a new position in Nektar Therapeutics in the 4th quarter worth $37,250,000. Charles Schwab Investment Management Inc. lifted its position in shares of Nektar Therapeutics by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,001,361 shares of the biopharmaceutical company’s stock worth $17,024,000 after purchasing an additional 49,429 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Nektar Therapeutics by 17.2% during the first quarter. Principal Financial Group Inc. now owns 665,756 shares of the biopharmaceutical company’s stock valued at $13,315,000 after buying an additional 97,703 shares during the period. Hedge funds and other institutional investors own 92.05% of the company’s stock.
In other Nektar Therapeutics news, insider Jonathan Zalevsky sold 31,111 shares of the stock in a transaction that occurred on Monday, May 17th. The shares were sold at an average price of $18.30, for a total value of $569,331.30. Following the transaction, the insider now directly owns 235,065 shares in the company, valued at $4,301,689.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Chess sold 8,000 shares of Nektar Therapeutics stock in a transaction on Wednesday, April 14th. The stock was sold at an average price of $18.98, for a total transaction of $151,840.00. Following the transaction, the director now owns 288,573 shares in the company, valued at approximately $5,477,115.54. The disclosure for this sale can be found here. Insiders sold 81,877 shares of company stock worth $1,512,109 over the last three months. Insiders own 2.91% of the company’s stock.
Nektar Therapeutics (NASDAQ:NKTR) last posted its earnings results on Thursday, May 6th. The biopharmaceutical company reported ($0.68) EPS for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.04. The business had revenue of $23.60 million during the quarter, compared to the consensus estimate of $26.15 million. Nektar Therapeutics had a negative net margin of 340.31% and a negative return on equity of 38.12%. The firm’s revenue was down 53.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.78) EPS. As a group, sell-side analysts anticipate that Nektar Therapeutics will post -3 EPS for the current fiscal year.
A number of research analysts have recently commented on NKTR shares. SVB Leerink lowered their target price on Nektar Therapeutics from $21.00 to $20.00 and set a “market perform” rating for the company in a research note on Monday, May 10th. Mizuho reaffirmed a “buy” rating on shares of Nektar Therapeutics in a report on Friday, May 7th. Finally, Benchmark reiterated a “hold” rating and set a $26.00 price target on shares of Nektar Therapeutics in a report on Monday, March 1st. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Nektar Therapeutics presently has a consensus rating of “Hold” and an average price target of $23.00.
Nektar Therapeutics Company Profile
Nektar Therapeutics operates as a biopharmaceutical company. The company researches and develops pipeline of investigational medicines in oncology, immunology, and virology, as well as a portfolio of approved partnered medicines. The company's products include Bempegaldesleukin, a CD122-preferential interleukin-2 (IL-2) pathway agonist, which is in phase 3 clinical trial to treat metastatic melanoma, renal cell carcinoma, muscle-invasive bladder cancer, and adjuvant melanoma; phase 2 clinical trial for the treatment of renal cell carcinoma and urothelial cancer; phase 1/2A clinical trial to treat squamous cell carcinoma of the head and neck; phase 1/2 clinical trial for the treatment of non-small cell lung cancer and immuno-oncology; and phase 1B clinical trial to treat COVID-19.It is also developing NKTR-358, a cytokine Treg stimulant that is in phase 2 clinical trial for the treatment of systemic lupus erythematosus and ulcerative colitis, as well as phase 1B clinical trial to treat atopic dermatitis and psoriasis; NKTR-255, an IL-15 receptor agonist, which is in phase 2 clinical trial for the treatment of non-Hodgkin's lymphoma and multiple myeloma, and head and neck cancer and colorectal cancer; and NKTR-262, a toll-like receptor agonist that is in phase 1/2 clinical trial to treat locally advanced or metastatic solid tumor malignancies, as well as various other drug candidates.
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