BNP Paribas Financial Markets Grows Stock Position in Nektar Therapeutics (NASDAQ:NKTR)

BNP Paribas Financial Markets lifted its position in Nektar Therapeutics (NASDAQ:NKTR) by 1,877.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 238,846 shares of the biopharmaceutical company’s stock after purchasing an additional 226,766 shares during the quarter. BNP Paribas Financial Markets owned about 0.13% of Nektar Therapeutics worth $310,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of NKTR. Victory Capital Management Inc. purchased a new position in shares of Nektar Therapeutics in the second quarter worth about $29,000. Valence8 US LP purchased a new position in shares of Nektar Therapeutics in the third quarter worth about $34,000. Intech Investment Management LLC purchased a new position in shares of Nektar Therapeutics in the third quarter worth about $41,000. The Manufacturers Life Insurance Company purchased a new position in shares of Nektar Therapeutics in the third quarter worth about $86,000. Finally, SG Americas Securities LLC raised its stake in shares of Nektar Therapeutics by 63.0% in the second quarter. SG Americas Securities LLC now owns 73,352 shares of the biopharmaceutical company’s stock worth $91,000 after purchasing an additional 28,338 shares during the last quarter. 75.88% of the stock is currently owned by hedge funds and other institutional investors.

Nektar Therapeutics Trading Up 1.0 %

Shares of NKTR opened at $1.01 on Monday. Nektar Therapeutics has a 12 month low of $0.46 and a 12 month high of $1.93. The stock’s 50 day moving average is $1.21 and its two-hundred day moving average is $1.25. The firm has a market cap of $186.30 million, a P/E ratio of -1.20 and a beta of 0.57.

Analysts Set New Price Targets

NKTR has been the subject of several research analyst reports. HC Wainwright initiated coverage on Nektar Therapeutics in a research note on Tuesday, December 10th. They issued a “buy” rating and a $6.50 price objective for the company. Piper Sandler initiated coverage on Nektar Therapeutics in a report on Monday, November 4th. They set an “overweight” rating and a $7.00 target price on the stock. Finally, BTIG Research reaffirmed a “buy” rating and set a $4.00 target price on shares of Nektar Therapeutics in a report on Monday, September 30th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $4.10.

Nektar Therapeutics Company Profile

Nektar Therapeutics, a biopharmaceutical company, focuses on discovering and developing medicines in the field of immunotherapy in the United States and internationally. The company is developing rezpegaldesleukin, a cytokine Treg stimulant that is in phase 2 clinical trial for the treatment of systemic lupus erythematosus and ulcerative colitis, as well as phase 2b clinical trial to treat atopic dermatitis and psoriasis; and NKTR-255, an IL-15 receptor agonist, which is in phase 1 clinical trial to boost the immune system's natural ability to fight cancer.