Teacher Retirement System of Texas increased its position in shares of Nektar Therapeutics (NASDAQ:NKTR) by 12.8% during the second quarter, Holdings Channel reports. The firm owned 18,576 shares of the biopharmaceutical company’s stock after buying an additional 2,103 shares during the period. Teacher Retirement System of Texas’ holdings in Nektar Therapeutics were worth $264,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the stock. Squarepoint Ops LLC bought a new position in Nektar Therapeutics during the first quarter worth $834,000. Cormorant Asset Management LLC raised its stake in shares of Nektar Therapeutics by 161.4% in the first quarter. Cormorant Asset Management LLC now owns 2,000,000 shares of the biopharmaceutical company’s stock worth $27,500,000 after buying an additional 1,234,844 shares during the last quarter. Bridger Management LLC acquired a new stake in shares of Nektar Therapeutics during the first quarter worth approximately $48,359,000. Bellevue Group AG acquired a new stake in shares of Nektar Therapeutics during the first quarter worth approximately $2,970,000. Finally, HBK Investments L P acquired a new stake in shares of Nektar Therapeutics during the first quarter worth approximately $178,000. Institutional investors and hedge funds own 96.87% of the company’s stock.
Shares of Nektar Therapeutics (NASDAQ:NKTR) opened at 15.89 on Monday. Nektar Therapeutics has a 1-year low of $10.52 and a 1-year high of $19.98. The stock’s market capitalization is $2.17 billion. The stock’s 50 day moving average price is $17.97 and its 200-day moving average price is $16.03.
Nektar Therapeutics (NASDAQ:NKTR) last released its earnings results on Wednesday, August 3rd. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by $0.03. The firm had revenue of $32.77 million for the quarter, compared to the consensus estimate of $34.17 million. Nektar Therapeutics had a negative return on equity of 8,769.15% and a negative net margin of 68.30%. The company’s revenue was up 44.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.40) EPS. Equities research analysts anticipate that Nektar Therapeutics will post ($1.11) EPS for the current fiscal year.
A number of equities research analysts have commented on the company. Jefferies Group restated a “buy” rating on shares of Nektar Therapeutics in a research report on Thursday, September 8th. Zacks Investment Research upgraded Nektar Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, September 21st. Piper Jaffray Cos. restated an “overweight” rating and set a $21.00 price objective (up from $17.00) on shares of Nektar Therapeutics in a research report on Friday, August 5th. Finally, Brean Capital restated a “buy” rating and set a $18.00 price objective on shares of Nektar Therapeutics in a research report on Friday, August 5th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Nektar Therapeutics presently has a consensus rating of “Buy” and an average price target of $21.75.
In related news, Director Robert Chess sold 12,000 shares of the company’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $19.21, for a total value of $230,520.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Howard W. Robin sold 87,500 shares of the company’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $17.83, for a total value of $1,560,125.00. The disclosure for this sale can be found here. 6.10% of the stock is owned by corporate insiders.
Nektar Therapeutics Company Profile
Nektar Therapeutics is a biopharmaceutical company. The Company is engaged in the development of a pipeline of drug candidates that utilize its PEGylation and advanced polymer conjugate technology platforms, which are designed to enable the development of new molecular entities that target known mechanisms of action.
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