Nektar Therapeutics (NASDAQ:NKTR) Shares Sold by Bank of America Corp DE

Bank of America Corp DE reduced its holdings in Nektar Therapeutics (NASDAQ:NKTR) by 5.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 207,267 shares of the biopharmaceutical company’s stock after selling 10,996 shares during the period. Bank of America Corp DE owned about 0.11% of Nektar Therapeutics worth $193,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NKTR. Two Sigma Securities LLC lifted its position in Nektar Therapeutics by 56.3% during the fourth quarter. Two Sigma Securities LLC now owns 27,654 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 9,958 shares during the period. Harvest Investment Services LLC purchased a new position in shares of Nektar Therapeutics during the 4th quarter valued at about $27,000. Sei Investments Co. lifted its holdings in shares of Nektar Therapeutics by 50.6% in the 4th quarter. Sei Investments Co. now owns 94,152 shares of the biopharmaceutical company’s stock valued at $88,000 after buying an additional 31,654 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Nektar Therapeutics by 26.5% in the 4th quarter. Wells Fargo & Company MN now owns 108,975 shares of the biopharmaceutical company’s stock valued at $101,000 after buying an additional 22,822 shares during the period. Finally, Voya Investment Management LLC boosted its stake in shares of Nektar Therapeutics by 200.3% in the fourth quarter. Voya Investment Management LLC now owns 181,679 shares of the biopharmaceutical company’s stock worth $169,000 after buying an additional 121,187 shares during the last quarter. Institutional investors and hedge funds own 75.88% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on NKTR. HC Wainwright reiterated a “buy” rating and set a $97.50 price target on shares of Nektar Therapeutics in a research report on Thursday, March 13th. Oppenheimer raised shares of Nektar Therapeutics from a “market perform” rating to an “outperform” rating and set a $90.00 target price for the company in a report on Friday, March 14th. William Blair reiterated a “market perform” rating on shares of Nektar Therapeutics in a research note on Monday, May 12th. Wall Street Zen lowered shares of Nektar Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, May 14th. Finally, Jefferies Financial Group raised shares of Nektar Therapeutics from a “hold” rating to a “buy” rating and lifted their price objective for the company from $15.00 to $30.00 in a report on Friday, April 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.50.

Nektar Therapeutics Stock Performance

NASDAQ:NKTR opened at $8.59 on Monday. The stock has a market capitalization of $106.63 million, a PE ratio of -10.23 and a beta of 0.55. Nektar Therapeutics has a fifty-two week low of $6.48 and a fifty-two week high of $22.79. The company has a fifty day moving average of $9.99 and a two-hundred day moving average of $12.14.

Nektar Therapeutics (NASDAQ:NKTR) last released its earnings results on Thursday, May 8th. The biopharmaceutical company reported ($3.30) EPS for the quarter, missing analysts’ consensus estimates of ($2.70) by ($0.60). The company had revenue of $10.46 million for the quarter, compared to analysts’ expectations of $15.61 million. Nektar Therapeutics had a negative return on equity of 173.28% and a negative net margin of 180.70%. During the same period in the prior year, the firm earned ($2.70) EPS. Research analysts forecast that Nektar Therapeutics will post -0.72 earnings per share for the current year.

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.