State of New Jersey Common Pension Fund D Grows Stock Holdings in Nektar Therapeutics (NASDAQ:NKTR)

State of New Jersey Common Pension Fund D lifted its holdings in Nektar Therapeutics (NASDAQ:NKTRGet Rating) by 18.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 238,019 shares of the biopharmaceutical company’s stock after purchasing an additional 36,578 shares during the period. State of New Jersey Common Pension Fund D owned about 0.13% of Nektar Therapeutics worth $3,216,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in NKTR. Camelot Portfolios LLC purchased a new stake in shares of Nektar Therapeutics in the 4th quarter worth approximately $136,000. Evoke Wealth LLC purchased a new stake in shares of Nektar Therapeutics in the 3rd quarter worth approximately $143,000. Franklin Resources Inc. purchased a new stake in shares of Nektar Therapeutics in the 3rd quarter worth approximately $215,000. Inspire Investing LLC purchased a new stake in shares of Nektar Therapeutics in the 3rd quarter worth approximately $228,000. Finally, Royal Bank of Canada lifted its position in shares of Nektar Therapeutics by 155.7% in the 2nd quarter. Royal Bank of Canada now owns 14,087 shares of the biopharmaceutical company’s stock worth $242,000 after purchasing an additional 8,578 shares during the period. 91.96% of the stock is owned by hedge funds and other institutional investors.

In related news, SVP John Northcott sold 4,852 shares of the stock in a transaction on Wednesday, February 16th. The shares were sold at an average price of $10.95, for a total transaction of $53,129.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Howard W. Robin sold 12,480 shares of the stock in a transaction on Wednesday, February 16th. The stock was sold at an average price of $10.95, for a total transaction of $136,656.00. The disclosure for this sale can be found here. Insiders sold a total of 38,186 shares of company stock worth $418,137 over the last ninety days. Insiders own 2.91% of the company’s stock.

Several research analysts recently commented on NKTR shares. Canaccord Genuity Group reduced their price objective on shares of Nektar Therapeutics from $25.00 to $6.00 and set a “buy” rating for the company in a research note on Wednesday, March 16th. William Blair lowered shares of Nektar Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Monday, March 14th. Stifel Nicolaus lowered shares of Nektar Therapeutics from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $24.00 to $5.00 in a research note on Monday, March 14th. StockNews.com started coverage on shares of Nektar Therapeutics in a research note on Thursday, March 31st. They set a “sell” rating for the company. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Nektar Therapeutics from $24.00 to $17.00 in a research note on Tuesday, March 1st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.58.

NKTR stock opened at $5.51 on Monday. The firm’s fifty day simple moving average is $8.47 and its 200-day simple moving average is $12.16. The company has a market capitalization of $1.03 billion, a P/E ratio of -1.93 and a beta of 1.29. Nektar Therapeutics has a 12 month low of $3.88 and a 12 month high of $20.66.

Nektar Therapeutics (NASDAQ:NKTRGet Rating) last released its quarterly earnings data on Monday, February 28th. The biopharmaceutical company reported ($0.79) EPS for the quarter, beating the consensus estimate of ($0.81) by $0.02. The business had revenue of $25.00 million for the quarter, compared to the consensus estimate of $25.33 million. Nektar Therapeutics had a negative net margin of 514.03% and a negative return on equity of 61.98%. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.65) EPS. As a group, equities analysts forecast that Nektar Therapeutics will post -2.67 earnings per share for the current year.

Nektar Therapeutics Profile (Get Rating)

Nektar Therapeutics, a biopharmaceutical company, focuses on discovering and developing medicines in areas of unmet medical need in the United States and internationally. The company's products include Bempegaldesleukin, a CD122-preferential interleukin-2 (IL-2) pathway agonist, which is in phase 3 clinical trial to treat metastatic melanoma, renal cell carcinoma, muscle-invasive bladder cancer, squamous cell carcinoma of the head and neck, and adjuvant melanoma; phase 2 clinical trial for the treatment of renal cell carcinoma, non-small cell lung cancer, and urothelial cancer; phase 1/2A clinical trial to treat squamous cell carcinoma of the head and neck; phase 1/2 clinical trial for the treatment of solid tumors; and phase 1B clinical trial to treat COVID-19.

Further Reading

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

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