ACT Capital Management LLC Makes New $2.17 Million Investment in Nektar Therapeutics $NKTR

ACT Capital Management LLC purchased a new position in Nektar Therapeutics (NASDAQ:NKTR) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 51,200 shares of the biopharmaceutical company’s stock, valued at approximately $2,165,000. Nektar Therapeutics comprises about 1.8% of ACT Capital Management LLC’s investment portfolio, making the stock its 18th largest position.

Other hedge funds have also added to or reduced their stakes in the company. Farallon Capital Management LLC bought a new position in shares of Nektar Therapeutics during the third quarter valued at about $45,008,000. Readystate Asset Management LP bought a new position in shares of Nektar Therapeutics during the third quarter valued at about $2,563,000. Hudson Bay Capital Management LP bought a new position in shares of Nektar Therapeutics during the third quarter valued at about $6,127,000. Propel Bio Management LLC bought a new position in shares of Nektar Therapeutics during the third quarter valued at about $2,788,000. Finally, Persistent Asset Partners Ltd bought a new position in shares of Nektar Therapeutics during the third quarter valued at about $983,000. 75.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on NKTR shares. Oppenheimer reiterated an “outperform” rating and set a $140.00 price target on shares of Nektar Therapeutics in a research report on Friday, March 13th. Jefferies Financial Group reiterated a “buy” rating on shares of Nektar Therapeutics in a research report on Wednesday, April 22nd. Piper Sandler boosted their price target on shares of Nektar Therapeutics from $105.00 to $192.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Wall Street Zen upgraded shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, HC Wainwright boosted their price target on shares of Nektar Therapeutics from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Nektar Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.63.

Insider Activity at Nektar Therapeutics

In other news, CEO Howard W. Robin sold 444 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $65.51, for a total value of $29,086.44. Following the transaction, the chief executive officer owned 75,045 shares in the company, valued at approximately $4,916,197.95. This represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jonathan Zalevsky sold 5,538 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $60.71, for a total transaction of $336,211.98. Following the completion of the transaction, the insider owned 15,437 shares in the company, valued at approximately $937,180.27. This represents a 26.40% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 6,181 shares of company stock worth $378,335. Insiders own 2.50% of the company’s stock.

Nektar Therapeutics Stock Performance

Shares of NKTR opened at $60.92 on Thursday. The stock has a market cap of $2.06 billion, a PE ratio of -7.24 and a beta of 1.13. Nektar Therapeutics has a fifty-two week low of $8.27 and a fifty-two week high of $109.00. The firm’s 50-day simple moving average is $73.67 and its two-hundred day simple moving average is $62.18.

Nektar Therapeutics (NASDAQ:NKTR) last announced its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($1.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.58) by ($0.24). The business had revenue of $10.86 million during the quarter, compared to analysts’ expectations of $10.69 million. Nektar Therapeutics had a negative return on equity of 85.40% and a negative net margin of 284.18%. Equities research analysts predict that Nektar Therapeutics will post -9.45 EPS for the current year.

Nektar Therapeutics Profile

Nektar Therapeutics (NASDAQ:NKTR) is a biopharmaceutical company dedicated to discovering and developing novel drug candidates through its proprietary chemistry and immunology platforms. The company focuses on polymer conjugate technology, which enables the creation of longer-acting versions of existing drugs, and on T-cell modulatory therapies aimed at harnessing the body’s immune system to treat cancer and other serious diseases.

Nektar’s product portfolio and pipeline include a range of clinical-stage and partnered programs.