Renaissance Technologies LLC Acquires 121,600 Shares of Nektar Therapeutics (NASDAQ:NKTR)

Renaissance Technologies LLC lifted its holdings in shares of Nektar Therapeutics (NASDAQ:NKTR) by 59.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 327,048 shares of the biopharmaceutical company’s stock after acquiring an additional 121,600 shares during the quarter. Renaissance Technologies LLC owned approximately 0.19% of Nektar Therapeutics worth $11,636,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Aperio Group LLC boosted its stake in shares of Nektar Therapeutics by 8.3% during the 2nd quarter. Aperio Group LLC now owns 44,069 shares of the biopharmaceutical company’s stock worth $1,567,000 after acquiring an additional 3,360 shares during the period. Financial Advisors Network Inc. boosted its stake in shares of Nektar Therapeutics by 10.7% during the 2nd quarter. Financial Advisors Network Inc. now owns 32,582 shares of the biopharmaceutical company’s stock worth $938,000 after acquiring an additional 3,154 shares during the period. Atria Investments LLC bought a new position in shares of Nektar Therapeutics during the 2nd quarter worth approximately $240,000. Bank of New York Mellon Corp boosted its stake in shares of Nektar Therapeutics by 2.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,479,386 shares of the biopharmaceutical company’s stock worth $52,637,000 after acquiring an additional 35,176 shares during the period. Finally, Acadian Asset Management LLC boosted its stake in shares of Nektar Therapeutics by 178.3% during the 2nd quarter. Acadian Asset Management LLC now owns 319,029 shares of the biopharmaceutical company’s stock worth $11,351,000 after acquiring an additional 204,394 shares during the period. Institutional investors own 93.27% of the company’s stock.

Several analysts recently weighed in on NKTR shares. HC Wainwright reissued a “hold” rating on shares of Nektar Therapeutics in a report on Tuesday, August 13th. BidaskClub cut Nektar Therapeutics from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 16th. Jefferies Financial Group cut Nektar Therapeutics from a “buy” rating to a “hold” rating and dropped their price target for the stock from $59.00 to $23.00 in a report on Friday, August 9th. BMO Capital Markets dropped their price target on Nektar Therapeutics from $75.00 to $41.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Finally, William Blair reissued a “buy” rating on shares of Nektar Therapeutics in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $49.15.

NASDAQ:NKTR traded down $0.07 during mid-day trading on Friday, hitting $20.15. 2,080,200 shares of the stock were exchanged, compared to its average volume of 2,781,971. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of 5.33 and a beta of 2.70. The company has a debt-to-equity ratio of 0.22, a quick ratio of 13.97 and a current ratio of 14.09. The firm’s 50-day simple moving average is $20.26 and its 200 day simple moving average is $30.25. Nektar Therapeutics has a fifty-two week low of $16.56 and a fifty-two week high of $62.70.

Nektar Therapeutics (NASDAQ:NKTR) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.63) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.80) by $0.17. The firm had revenue of $23.32 million during the quarter, compared to analysts’ expectations of $26.65 million. Nektar Therapeutics had a negative return on equity of 25.25% and a negative net margin of 354.90%. The company’s quarterly revenue was down 97.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.33 EPS. On average, analysts predict that Nektar Therapeutics will post -2.85 EPS for the current fiscal year.

In other Nektar Therapeutics news, CEO Howard W. Robin sold 12,551 shares of Nektar Therapeutics stock in a transaction on Friday, August 16th. The stock was sold at an average price of $18.15, for a total value of $227,800.65. Following the completion of the transaction, the chief executive officer now directly owns 282,775 shares of the company’s stock, valued at approximately $5,132,366.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Howard W. Robin sold 33,334 shares of Nektar Therapeutics stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $32.11, for a total value of $1,070,354.74. Following the completion of the transaction, the chief executive officer now directly owns 328,659 shares of the company’s stock, valued at $10,553,240.49. The disclosure for this sale can be found here. Insiders sold a total of 141,576 shares of company stock valued at $3,660,497 over the last ninety days. Insiders own 4.02% of the company’s stock.

Nektar Therapeutics Company Profile

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

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