Walleye Capital LLC Takes $2.02 Million Position in Nektar Therapeutics (NASDAQ:NKTR)

Walleye Capital LLC acquired a new stake in shares of Nektar Therapeutics (NASDAQ:NKTRGet Rating) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 374,700 shares of the biopharmaceutical company’s stock, valued at approximately $2,020,000. Walleye Capital LLC owned about 0.20% of Nektar Therapeutics at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of NKTR. Calton & Associates Inc. bought a new position in Nektar Therapeutics during the 1st quarter worth approximately $55,000. Verition Fund Management LLC bought a new position in Nektar Therapeutics during the 1st quarter worth approximately $55,000. Arete Wealth Advisors LLC bought a new position in Nektar Therapeutics during the 1st quarter worth approximately $59,000. Halbert Hargrove Global Advisors LLC bought a new position in Nektar Therapeutics during the 1st quarter worth approximately $61,000. Finally, X Square Capital LLC bought a new position in Nektar Therapeutics during the 1st quarter worth approximately $70,000. 96.99% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Howard W. Robin sold 13,759 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $4.76, for a total value of $65,492.84. Following the completion of the transaction, the chief executive officer now owns 1,017,807 shares in the company, valued at approximately $4,844,761.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Howard W. Robin sold 13,759 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $4.76, for a total value of $65,492.84. Following the completion of the transaction, the chief executive officer now owns 1,017,807 shares in the company, valued at approximately $4,844,761.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Karin Eastham sold 21,267 shares of the firm’s stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $3.61, for a total value of $76,773.87. Following the transaction, the director now directly owns 13,033 shares of the company’s stock, valued at approximately $47,049.13. The disclosure for this sale can be found here. Insiders sold a total of 124,497 shares of company stock worth $560,040 in the last quarter. 3.38% of the stock is owned by company insiders.

Nektar Therapeutics Stock Down 5.2 %

NKTR opened at $3.47 on Friday. The stock has a market cap of $650.30 million, a PE ratio of -1.23 and a beta of 1.16. The business has a 50 day moving average of $4.13 and a 200-day moving average of $4.65. Nektar Therapeutics has a 52 week low of $3.02 and a 52 week high of $19.37.

Nektar Therapeutics (NASDAQ:NKTRGet Rating) last released its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.85) EPS for the quarter, beating analysts’ consensus estimates of ($1.01) by $0.16. The company had revenue of $21.59 million during the quarter, compared to analysts’ expectations of $22.75 million. Nektar Therapeutics had a negative return on equity of 82.40% and a negative net margin of 544.77%. The firm’s revenue for the quarter was down 23.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.69) EPS. Equities analysts anticipate that Nektar Therapeutics will post -2.14 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on NKTR shares. JPMorgan Chase & Co. lowered Nektar Therapeutics from a “neutral” rating to an “underweight” rating in a research report on Monday, August 8th. StockNews.com upgraded Nektar Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, August 11th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $13.17.

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.

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

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