Man Group plc increased its position in Nektar Therapeutics (NASDAQ:NKTR) by 739.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 213,203 shares of the biopharmaceutical company’s stock after purchasing an additional 187,807 shares during the period. Man Group plc owned 0.12% of Nektar Therapeutics worth $12,997,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Flagship Harbor Advisors LLC acquired a new position in Nektar Therapeutics during the 2nd quarter worth approximately $142,000. Sterling Investment Advisors Ltd. acquired a new stake in shares of Nektar Therapeutics in the 3rd quarter worth approximately $183,000. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Nektar Therapeutics by 68.7% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 4,290 shares of the biopharmaceutical company’s stock worth $209,000 after acquiring an additional 1,747 shares during the period. Gabelli Funds LLC acquired a new stake in shares of Nektar Therapeutics in the 3rd quarter worth approximately $213,000. Finally, Laurion Capital Management LP acquired a new stake in shares of Nektar Therapeutics in the 3rd quarter worth approximately $219,000. 91.08% of the stock is owned by institutional investors and hedge funds.
Shares of Nektar Therapeutics stock traded down $0.46 during trading hours on Friday, hitting $41.01. 1,586,885 shares of the company’s stock traded hands, compared to its average volume of 2,514,753. The company has a debt-to-equity ratio of 0.14, a current ratio of 13.93 and a quick ratio of 13.80. The company has a market capitalization of $7.13 billion, a PE ratio of -74.56 and a beta of 2.79. Nektar Therapeutics has a twelve month low of $29.22 and a twelve month high of $111.36.
Nektar Therapeutics (NASDAQ:NKTR) last announced its earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($0.56) earnings per share for the quarter, beating the consensus estimate of ($0.63) by $0.07. The company had revenue of $27.80 million during the quarter, compared to the consensus estimate of $26.08 million. Nektar Therapeutics had a return on equity of 79.66% and a net margin of 59.71%. The company’s revenue was down 81.8% on a year-over-year basis. During the same period last year, the firm earned $0.37 earnings per share. On average, equities analysts expect that Nektar Therapeutics will post 3.66 earnings per share for the current fiscal year.
In related news, CFO Gil M. Labrucherie sold 6,515 shares of Nektar Therapeutics stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $38.25, for a total value of $249,198.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John Nicholson sold 5,982 shares of the firm’s stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $38.25, for a total transaction of $228,811.50. Following the completion of the transaction, the chief operating officer now directly owns 174,477 shares in the company, valued at approximately $6,673,745.25. The disclosure for this sale can be found here. Insiders sold 36,363 shares of company stock valued at $1,390,885 over the last quarter. Insiders own 4.31% of the company’s stock.
A number of research firms recently issued reports on NKTR. ValuEngine lowered Nektar Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, November 2nd. HC Wainwright reissued a “hold” rating and set a $47.00 price target on shares of Nektar Therapeutics in a research note on Monday, November 5th. Jefferies Financial Group reduced their price target on Nektar Therapeutics from $103.00 to $73.00 and set a “buy” rating on the stock in a research note on Thursday, November 8th. BidaskClub lowered Nektar Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, October 24th. Finally, Zacks Investment Research lowered Nektar Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, October 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $82.10.
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Nektar Therapeutics Profile
Nektar Therapeutics, a research-based biopharmaceutical company, discovers and develops drug candidates for cancer, auto-immune disease, and chronic pain in the United States. The company offers ONZEALD, a topoisomerase I inhibitor that is in Phase III clinical trial for advanced metastatic breast cancer in patients with brain metastases; NKTR-181, an orally-available mu-opioid analgesic molecule, which is in Phase III clinical trial for moderate to severe chronic pain; NKTR-214, a cytokine immunostimulatory therapy that is in Phase I/II to treat cancer; NKTR-358, which is in Phase I to treat autoimmune diseases; and NKTR-262 for solid tumors, as well as NKTR-255 that is under research/preclinical stage for immuno-oncology.
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