Nektar Therapeutics (NASDAQ:NKTR) Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. boosted its position in Nektar Therapeutics (NASDAQ:NKTR – Get Rating) by 675.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 837,065 shares of the biopharmaceutical company’s stock after purchasing an additional 729,087 shares during the period. Federated Hermes Inc. owned approximately 0.45% of Nektar Therapeutics worth $2,680,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in shares of Nektar Therapeutics by 11.0% during the 3rd quarter. BlackRock Inc. now owns 35,050,519 shares of the biopharmaceutical company’s stock valued at $112,159,000 after acquiring an additional 3,477,606 shares during the last quarter. State Street Corp lifted its position in shares of Nektar Therapeutics by 50.5% during the 2nd quarter. State Street Corp now owns 8,728,968 shares of the biopharmaceutical company’s stock valued at $33,170,000 after acquiring an additional 2,928,666 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Nektar Therapeutics by 28.4% during the 1st quarter. First Trust Advisors LP now owns 4,390,618 shares of the biopharmaceutical company’s stock valued at $23,665,000 after acquiring an additional 970,889 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Nektar Therapeutics by 5.0% during the 1st quarter. Vanguard Group Inc. now owns 19,430,385 shares of the biopharmaceutical company’s stock valued at $104,729,000 after acquiring an additional 918,474 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. acquired a new stake in shares of Nektar Therapeutics during the 1st quarter valued at $3,697,000. 92.30% of the stock is currently owned by institutional investors and hedge funds.

Nektar Therapeutics Price Performance

Nektar Therapeutics stock opened at $1.22 on Friday. The company has a market capitalization of $230.87 million, a price-to-earnings ratio of -0.62 and a beta of 1.10. Nektar Therapeutics has a one year low of $1.21 and a one year high of $11.13. The company’s fifty day moving average price is $2.41 and its two-hundred day moving average price is $3.05.

Nektar Therapeutics (NASDAQ:NKTR – Get Rating) last posted its earnings results on Tuesday, February 28th. The biopharmaceutical company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.11. Nektar Therapeutics had a negative net margin of 399.98% and a negative return on equity of 76.92%. The firm had revenue of $22.02 million for the quarter, compared to the consensus estimate of $22.21 million. During the same period in the prior year, the business posted ($0.79) earnings per share. The business’s quarterly revenue was down 11.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Nektar Therapeutics will post -0.9 earnings per share for the current year.

Insider Buying and Selling at Nektar Therapeutics

In other Nektar Therapeutics news, insider Jonathan Zalevsky sold 10,484 shares of the company’s stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $3.00, for a total transaction of $31,452.00. Following the completion of the sale, the insider now directly owns 303,179 shares in the company, valued at $909,537. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Howard W. Robin sold 19,635 shares of the stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $3.00, for a total value of $58,905.00. Following the completion of the sale, the chief executive officer now owns 960,158 shares in the company, valued at $2,880,474. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jonathan Zalevsky sold 10,484 shares of the stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $3.00, for a total transaction of $31,452.00. Following the completion of the sale, the insider now owns 303,179 shares of the company’s stock, valued at approximately $909,537. The disclosure for this sale can be found here. Insiders sold 40,386 shares of company stock worth $121,158 over the last ninety days. Company insiders own 3.38% of the company’s stock.

Analyst Ratings Changes

NKTR has been the topic of several recent analyst reports. SVB Securities cut their target price on shares of Nektar Therapeutics from $5.00 to $3.00 in a research note on Friday, February 24th. The Goldman Sachs Group cut their target price on shares of Nektar Therapeutics from $3.00 to $2.00 and set a “sell” rating on the stock in a research note on Monday, February 27th. Jefferies Financial Group downgraded shares of Nektar Therapeutics from a “hold” rating to an “underperform” rating and cut their target price for the company from $3.20 to $1.50 in a research note on Friday, February 24th. Oppenheimer cut their target price on shares of Nektar Therapeutics from $5.00 to $3.00 and set a “market perform” rating on the stock in a research note on Monday. Finally, SVB Leerink cut their target price on shares of Nektar Therapeutics from $5.00 to $3.00 and set a “market perform” rating on the stock in a research note on Friday, February 24th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.50.

Nektar Therapeutics Profile

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Nektar Therapeutics is a research-based biopharmaceutical company which engages in discovering and developing medicines in areas of unmet medical need. Its research and development pipeline of new investigational drugs includes therapies for oncology, immunology and virology. The firm focuses on using new chemistry approaches to make medicines to treat cancer and autoimmune diseases.