Bank of Montreal Can cut its holdings in shares of Nektar Therapeutics (NASDAQ:NKTR) by 28.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 158,543 shares of the biopharmaceutical company’s stock after selling 61,996 shares during the quarter. Bank of Montreal Can owned approximately 0.09% of Nektar Therapeutics worth $5,327,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Meeder Asset Management Inc. increased its position in shares of Nektar Therapeutics by 150.2% during the 1st quarter. Meeder Asset Management Inc. now owns 798 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 479 shares during the last quarter. CSat Investment Advisory L.P. increased its position in shares of Nektar Therapeutics by 279.2% during the 4th quarter. CSat Investment Advisory L.P. now owns 1,073 shares of the biopharmaceutical company’s stock valued at $35,000 after purchasing an additional 790 shares during the last quarter. Laurel Wealth Advisors LLC purchased a new stake in shares of Nektar Therapeutics during the 4th quarter valued at $39,000. Sandy Spring Bank purchased a new stake in Nektar Therapeutics in the 4th quarter worth about $59,000. Finally, Enterprise Financial Services Corp purchased a new stake in Nektar Therapeutics in the 1st quarter worth about $67,000. 94.79% of the stock is owned by hedge funds and other institutional investors.
In other Nektar Therapeutics news, CEO Howard W. Robin sold 42,215 shares of the firm’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $42.33, for a total value of $1,786,960.95. Following the completion of the transaction, the chief executive officer now owns 350,924 shares in the company, valued at approximately $14,854,612.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Howard W. Robin sold 108,882 shares of the firm’s stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $42.19, for a total value of $4,593,731.58. Following the completion of the transaction, the chief executive officer now owns 350,924 shares of the company’s stock, valued at approximately $14,805,483.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 162,705 shares of company stock valued at $6,872,756. 4.31% of the stock is owned by corporate insiders.
Shares of NKTR opened at $34.79 on Friday. Nektar Therapeutics has a fifty-two week low of $29.22 and a fifty-two week high of $92.17. The stock has a market capitalization of $6.18 billion, a P/E ratio of 9.20 and a beta of 2.96. The company has a quick ratio of 17.39, a current ratio of 14.94 and a debt-to-equity ratio of 0.21.
Nektar Therapeutics (NASDAQ:NKTR) last issued its earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.68) EPS for the quarter, topping the consensus estimate of ($0.71) by $0.03. Nektar Therapeutics had a return on equity of 37.63% and a net margin of 55.65%. The business had revenue of $28.22 million during the quarter, compared to the consensus estimate of $25.45 million. During the same quarter last year, the company earned ($0.60) EPS. Sell-side analysts expect that Nektar Therapeutics will post -3.02 earnings per share for the current year.
Several brokerages recently weighed in on NKTR. ValuEngine lowered Nektar Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, January 31st. BMO Capital Markets began coverage on Nektar Therapeutics in a report on Friday, February 22nd. They issued an “outperform” rating and a $75.00 price objective for the company. Svb Leerink began coverage on Nektar Therapeutics in a report on Friday, March 15th. They issued a “mkt perform” rating and a $38.00 price objective for the company. Zacks Investment Research lowered Nektar Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. Finally, TheStreet raised Nektar Therapeutics from a “d+” rating to a “c” rating in a report on Thursday, February 28th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $69.73.
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About Nektar Therapeutics
Nektar Therapeutics, a biopharmaceutical company, develops drug candidates for cancer, auto-immune disease, and chronic pain in the United States. The company develops NKTR-181, an orally-available mu-opioid analgesic molecule, which is in Phase III clinical trial for moderate to severe chronic pain; ONZEALD, a topoisomerase I inhibitor that is in Phase III clinical trial for advanced metastatic breast cancer in patients with brain metastases; and NKTR-214, a CD122-preferential interleukin-2 (IL-2) pathway agonist, which is in Phase I to treat immuno-oncology.
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