Nektar Therapeutics (NKTR) Stake Lessened by ETF Managers Group LLC

ETF Managers Group LLC reduced its position in shares of Nektar Therapeutics (NASDAQ:NKTR) by 8.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,507 shares of the biopharmaceutical company’s stock after selling 1,900 shares during the quarter. ETF Managers Group LLC’s holdings in Nektar Therapeutics were worth $723,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Meeder Asset Management Inc. lifted its stake in Nektar Therapeutics by 150.2% in the 1st quarter. Meeder Asset Management Inc. now owns 798 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 479 shares in the last quarter. Quantamental Technologies LLC purchased a new position in Nektar Therapeutics in the 1st quarter valued at about $27,000. CSat Investment Advisory L.P. lifted its stake in Nektar Therapeutics by 279.2% in the 4th quarter. CSat Investment Advisory L.P. now owns 1,073 shares of the biopharmaceutical company’s stock valued at $35,000 after buying an additional 790 shares in the last quarter. Laurel Wealth Advisors LLC purchased a new position in Nektar Therapeutics in the 4th quarter valued at about $39,000. Finally, Sandy Spring Bank purchased a new position in Nektar Therapeutics in the 4th quarter valued at about $59,000. 94.90% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts recently weighed in on NKTR shares. Mizuho reaffirmed a “buy” rating on shares of Nektar Therapeutics in a research note on Tuesday, February 19th. Piper Jaffray Companies set a $100.00 price target on shares of Nektar Therapeutics and gave the company a “buy” rating in a research note on Friday, March 1st. TheStreet raised shares of Nektar Therapeutics from a “d+” rating to a “c” rating in a research note on Thursday, February 28th. HC Wainwright reaffirmed a “hold” rating and issued a $47.00 price target on shares of Nektar Therapeutics in a research note on Tuesday, February 19th. Finally, ValuEngine raised shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $69.73.

NKTR opened at $33.42 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 14.83 and a current ratio of 14.94. Nektar Therapeutics has a 1-year low of $29.22 and a 1-year high of $92.17. The company has a market capitalization of $5.58 billion, a price-to-earnings ratio of 8.84 and a beta of 2.96.

Nektar Therapeutics (NASDAQ:NKTR) last released its earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.68) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.71) by $0.03. Nektar Therapeutics had a net margin of 55.65% and a return on equity of 37.63%. The business had revenue of $28.22 million for the quarter, compared to analyst estimates of $25.45 million. During the same period last year, the company posted ($0.60) EPS. Sell-side analysts forecast that Nektar Therapeutics will post -3.14 EPS for the current fiscal year.

In other Nektar Therapeutics news, SVP Stephen K. Doberstein sold 3,461 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $31.37, for a total value of $108,571.57. Following the transaction, the senior vice president now directly owns 95,913 shares of the company’s stock, valued at approximately $3,008,790.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Howard W. Robin sold 108,882 shares of the firm’s stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $42.19, for a total transaction of $4,593,731.58. Following the completion of the transaction, the chief executive officer now directly owns 350,924 shares in the company, valued at $14,805,483.56. The disclosure for this sale can be found here. Insiders sold a total of 135,498 shares of company stock worth $5,428,676 over the last three months. Corporate insiders own 4.31% of the company’s stock.

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Nektar Therapeutics Company Profile

Nektar Therapeutics, a biopharmaceutical company, develops drug candidates for cancer, auto-immune disease, and chronic pain in the United States. The company develops NKTR-181, an orally-available mu-opioid analgesic molecule, which is in Phase III clinical trial for moderate to severe chronic pain; ONZEALD, a topoisomerase I inhibitor that is in Phase III clinical trial for advanced metastatic breast cancer in patients with brain metastases; and NKTR-214, a CD122-preferential interleukin-2 (IL-2) pathway agonist, which is in Phase I to treat immuno-oncology.

Further Reading: What are the qualifications of a portfolio manager?

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

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