Oxford Asset Management cut its stake in shares of Nektar Therapeutics (NASDAQ:NKTR) by 23.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 143,675 shares of the biopharmaceutical company’s stock after selling 43,231 shares during the period. Oxford Asset Management’s holdings in Nektar Therapeutics were worth $3,372,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the stock. HBK Investments L P increased its stake in shares of Nektar Therapeutics by 36.6% in the third quarter. HBK Investments L P now owns 40,700 shares of the biopharmaceutical company’s stock valued at $699,000 after buying an additional 10,900 shares during the period. Two Sigma Advisers LP bought a new stake in shares of Nektar Therapeutics during the third quarter valued at $4,112,000. United Services Automobile Association increased its stake in shares of Nektar Therapeutics by 4.4% in the third quarter. United Services Automobile Association now owns 174,300 shares of the biopharmaceutical company’s stock valued at $2,994,000 after buying an additional 7,300 shares during the period. Zacks Investment Management bought a new stake in shares of Nektar Therapeutics during the third quarter valued at $219,000. Finally, Principal Financial Group Inc. increased its stake in shares of Nektar Therapeutics by 4.0% in the third quarter. Principal Financial Group Inc. now owns 1,328,083 shares of the biopharmaceutical company’s stock valued at $22,817,000 after buying an additional 51,490 shares during the period. Hedge funds and other institutional investors own 86.80% of the company’s stock.
Nektar Therapeutics (NASDAQ:NKTR) traded down 3.02% on Friday, hitting $18.95. The stock had a trading volume of 1,504,338 shares. The company’s 50-day moving average is $19.45 and its 200-day moving average is $15.34. The stock’s market cap is $2.94 billion. Nektar Therapeutics has a one year low of $11.41 and a one year high of $24.88.
Nektar Therapeutics (NASDAQ:NKTR) last announced its earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($0.42) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.40) by $0.02. Nektar Therapeutics had a negative return on equity of 8,769.15% and a negative net margin of 98.87%. The business had revenue of $24.73 million for the quarter, compared to analysts’ expectations of $29.43 million. During the same period in the previous year, the firm posted ($0.14) earnings per share. The firm’s revenue was down 58.0% compared to the same quarter last year. On average, analysts anticipate that Nektar Therapeutics will post ($1.19) earnings per share for the current fiscal year.
Several brokerages have weighed in on NKTR. Roth Capital set a $31.00 price target on Nektar Therapeutics and gave the stock a “buy” rating in a report on Thursday, May 11th. Jefferies Group LLC cut their price target on Nektar Therapeutics from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, May 10th. Aegis restated a “buy” rating and set a $27.00 price target on shares of Nektar Therapeutics in a report on Wednesday, May 10th. Piper Jaffray Companies restated an “overweight” rating and set a $29.00 price target on shares of Nektar Therapeutics in a report on Tuesday, April 11th. Finally, Zacks Investment Research upgraded Nektar Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, March 27th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $25.25.
In other news, SVP Stephen K. Doberstein sold 1,701 shares of Nektar Therapeutics stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $19.55, for a total transaction of $33,254.55. Following the sale, the senior vice president now directly owns 32,803 shares of the company’s stock, valued at $641,298.65. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Gil M. Labrucherie sold 200,000 shares of Nektar Therapeutics stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $15.16, for a total value of $3,032,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 540,914 shares of company stock worth $10,135,119. Corporate insiders own 6.10% of the company’s stock.
Nektar Therapeutics Company Profile
Nektar Therapeutics is a biopharmaceutical company that discovers and develops medicines in areas of high unmet medical need. The Company’s research and development pipeline of new investigational drugs includes treatments for cancer, auto-immune disease and chronic pain. It leverages its chemistry platform to discover and design new drug candidates.
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