Mitsubishi UFJ Trust & Banking Corp Has $7.77 Million Position in Nektar Therapeutics (NKTR)

Mitsubishi UFJ Trust & Banking Corp lowered its position in shares of Nektar Therapeutics (NASDAQ:NKTR) by 60.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 127,524 shares of the biopharmaceutical company’s stock after selling 197,869 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.07% of Nektar Therapeutics worth $7,774,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in NKTR. FMR LLC grew its position in Nektar Therapeutics by 6.7% in the 2nd quarter. FMR LLC now owns 25,705,902 shares of the biopharmaceutical company’s stock worth $1,255,220,000 after purchasing an additional 1,608,834 shares during the period. BlackRock Inc. grew its position in Nektar Therapeutics by 3.7% in the 3rd quarter. BlackRock Inc. now owns 13,121,756 shares of the biopharmaceutical company’s stock worth $799,902,000 after purchasing an additional 463,152 shares during the period. OppenheimerFunds Inc. grew its position in Nektar Therapeutics by 7.9% in the 2nd quarter. OppenheimerFunds Inc. now owns 11,560,779 shares of the biopharmaceutical company’s stock worth $564,512,000 after purchasing an additional 845,257 shares during the period. First Trust Advisors LP grew its position in Nektar Therapeutics by 176.2% in the 3rd quarter. First Trust Advisors LP now owns 2,068,900 shares of the biopharmaceutical company’s stock worth $126,120,000 after purchasing an additional 1,319,776 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Nektar Therapeutics by 20.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,401,029 shares of the biopharmaceutical company’s stock worth $85,406,000 after purchasing an additional 241,111 shares during the period. 91.15% of the stock is owned by institutional investors.

In other news, SVP Stephen K. Doberstein sold 4,524 shares of the business’s stock in a transaction on Friday, November 16th. The shares were sold at an average price of $38.25, for a total transaction of $173,043.00. Following the completion of the sale, the senior vice president now owns 78,734 shares of the company’s stock, valued at approximately $3,011,575.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Jillian B. Thomsen sold 4,016 shares of the business’s stock in a transaction on Friday, November 16th. The shares were sold at an average price of $38.25, for a total transaction of $153,612.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,113 shares of company stock valued at $1,774,015. Insiders own 4.31% of the company’s stock.

Shares of NKTR stock opened at $36.99 on Friday. Nektar Therapeutics has a 1 year low of $33.50 and a 1 year high of $111.36. The company has a quick ratio of 13.80, a current ratio of 13.93 and a debt-to-equity ratio of 0.14. The firm has a market cap of $6.58 billion, a PE ratio of 9.44 and a beta of 2.81.

Nektar Therapeutics (NASDAQ:NKTR) last issued its quarterly earnings data on Wednesday, November 7th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.07. Nektar Therapeutics had a net margin of 59.71% and a return on equity of 79.66%. The firm had revenue of $27.80 million during the quarter, compared to the consensus estimate of $26.08 million. During the same quarter in the previous year, the firm posted $0.37 EPS. The company’s revenue for the quarter was down 81.8% compared to the same quarter last year. On average, sell-side analysts forecast that Nektar Therapeutics will post 3.66 earnings per share for the current fiscal year.

A number of research firms have commented on NKTR. BidaskClub raised shares of Nektar Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 14th. HC Wainwright set a $54.00 target price on shares of Nektar Therapeutics and gave the stock a “hold” rating in a research report on Friday, August 10th. TheStreet downgraded shares of Nektar Therapeutics from a “c” rating to a “d+” rating in a research report on Wednesday, November 7th. ValuEngine downgraded shares of Nektar Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, November 2nd. Finally, Jefferies Financial Group cut their target price on shares of Nektar Therapeutics from $103.00 to $73.00 and set a “buy” rating for the company in a research report on Thursday, November 8th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $84.56.

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About Nektar Therapeutics

Nektar Therapeutics, a research-based biopharmaceutical company, discovers and develops drug candidates for cancer, auto-immune disease, and chronic pain in the United States. The company offers ONZEALD, a topoisomerase I inhibitor that is in Phase III clinical trial for advanced metastatic breast cancer in patients with brain metastases; NKTR-181, an orally-available mu-opioid analgesic molecule, which is in Phase III clinical trial for moderate to severe chronic pain; NKTR-214, a cytokine immunostimulatory therapy that is in Phase I/II to treat cancer; NKTR-358, which is in Phase I to treat autoimmune diseases; and NKTR-262 for solid tumors, as well as NKTR-255 that is under research/preclinical stage for immuno-oncology.

Further Reading: Asset Allocation and Your Retirement

Institutional Ownership by Quarter for Nektar Therapeutics (NASDAQ:NKTR)

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