State of New Jersey Common Pension Fund D Sells 69,586 Shares of Nektar Therapeutics (NASDAQ:NKTR)

State of New Jersey Common Pension Fund D reduced its stake in Nektar Therapeutics (NASDAQ:NKTRGet Rating) by 11.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 515,907 shares of the biopharmaceutical company’s stock after selling 69,586 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.28% of Nektar Therapeutics worth $1,651,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Klingman & Associates LLC bought a new stake in shares of Nektar Therapeutics in the 3rd quarter worth about $114,000. Xponance Inc. bought a new stake in shares of Nektar Therapeutics in the 3rd quarter worth about $33,000. Louisiana State Employees Retirement System bought a new stake in shares of Nektar Therapeutics in the 3rd quarter worth about $286,000. Federated Hermes Inc. bought a new stake in shares of Nektar Therapeutics in the 2nd quarter worth about $410,000. Finally, Walleye Capital LLC increased its holdings in shares of Nektar Therapeutics by 29.9% in the 2nd quarter. Walleye Capital LLC now owns 486,724 shares of the biopharmaceutical company’s stock worth $1,850,000 after buying an additional 112,024 shares during the last quarter. 92.30% of the stock is currently owned by institutional investors.

Nektar Therapeutics Price Performance

Nektar Therapeutics stock opened at $2.32 on Friday. The stock has a market cap of $436.05 million, a price-to-earnings ratio of -0.95 and a beta of 1.04. Nektar Therapeutics has a 1 year low of $1.99 and a 1 year high of $11.90. The firm has a 50-day moving average of $2.72 and a two-hundred day moving average of $3.46.

Nektar Therapeutics (NASDAQ:NKTRGet Rating) last released its quarterly earnings data on Thursday, November 3rd. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.47) by $0.23. The company had revenue of $23.63 million during the quarter, compared to analysts’ expectations of $23.31 million. Nektar Therapeutics had a negative net margin of 477.85% and a negative return on equity of 81.70%. Research analysts expect that Nektar Therapeutics will post -2.14 earnings per share for the current year.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on shares of Nektar Therapeutics in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, Nektar Therapeutics currently has an average rating of “Hold” and a consensus target price of $8.40.

Insider Activity

In other news, insider Jonathan Zalevsky sold 13,460 shares of the business’s stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $3.57, for a total value of $48,052.20. Following the completion of the sale, the insider now owns 313,663 shares in the company, valued at approximately $1,119,776.91. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Jillian B. Thomsen sold 11,095 shares of the business’s stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $3.57, for a total transaction of $39,609.15. Following the completion of the transaction, the chief financial officer now owns 323,764 shares in the company, valued at approximately $1,155,837.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jonathan Zalevsky sold 13,460 shares of the business’s stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $3.57, for a total transaction of $48,052.20. Following the transaction, the insider now owns 313,663 shares of the company’s stock, valued at approximately $1,119,776.91. The disclosure for this sale can be found here. In the last quarter, insiders sold 62,569 shares of company stock worth $223,371. 3.38% of the stock is currently owned by corporate insiders.

About Nektar Therapeutics

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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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