Nektar Therapeutics $NKTR Shares Acquired by BNP Paribas Financial Markets

BNP Paribas Financial Markets boosted its stake in shares of Nektar Therapeutics (NASDAQ:NKTR) by 48,355.8% in the fourth quarter, HoldingsChannel reports. The firm owned 210,298 shares of the biopharmaceutical company’s stock after purchasing an additional 209,864 shares during the quarter. BNP Paribas Financial Markets’ holdings in Nektar Therapeutics were worth $8,891,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NKTR. Headlands Technologies LLC acquired a new position in Nektar Therapeutics during the 2nd quarter valued at approximately $65,000. Integrated Wealth Concepts LLC acquired a new position in Nektar Therapeutics during the 1st quarter valued at approximately $68,000. Compass Wealth Management LLC acquired a new position in Nektar Therapeutics during the 3rd quarter valued at approximately $88,000. Bessemer Group Inc. boosted its position in Nektar Therapeutics by 1,741.2% during the 3rd quarter. Bessemer Group Inc. now owns 1,565 shares of the biopharmaceutical company’s stock worth $90,000 after acquiring an additional 1,480 shares during the period. Finally, Flagship Harbor Advisors LLC bought a new position in shares of Nektar Therapeutics in the fourth quarter worth $92,000. Institutional investors and hedge funds own 75.88% of the company’s stock.

Nektar Therapeutics Stock Performance

NASDAQ:NKTR opened at $56.62 on Tuesday. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of -6.72 and a beta of 1.13. The business has a fifty day moving average of $75.59 and a 200-day moving average of $62.22. Nektar Therapeutics has a 1 year low of $7.99 and a 1 year high of $109.00.

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 the consensus estimate of ($1.58) by ($0.24). The firm had revenue of $10.86 million during the quarter, compared to analyst estimates of $10.69 million. Nektar Therapeutics had a negative net margin of 284.18% and a negative return on equity of 85.40%. On average, equities research analysts predict that Nektar Therapeutics will post -9.45 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NKTR. Citigroup increased their price target on Nektar Therapeutics from $123.00 to $151.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Nektar Therapeutics in a research note on Tuesday, June 2nd. Jefferies Financial Group reissued a “buy” rating on shares of Nektar Therapeutics in a research note on Wednesday, April 22nd. Piper Sandler increased their price target on Nektar Therapeutics from $105.00 to $192.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Finally, William Blair raised Nektar Therapeutics from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 10th. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $149.63.

Insider Buying and Selling at Nektar Therapeutics

In other news, CEO Howard W. Robin sold 444 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $65.51, for a total value of $29,086.44. Following the completion of the sale, the chief executive officer owned 75,045 shares in the company, valued at $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 available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.50% of the stock is currently owned by company insiders.

Nektar Therapeutics Company 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.