Tocqueville Asset Management L.P. lessened its position in shares of Nektar Therapeutics (NASDAQ:NKTR) by 19.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 188,631 shares of the biopharmaceutical company’s stock after selling 45,650 shares during the quarter. Tocqueville Asset Management L.P. owned approximately 0.11% of Nektar Therapeutics worth $6,711,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in NKTR. Meeder Asset Management Inc. increased its position in Nektar Therapeutics by 150.2% during the 1st quarter. Meeder Asset Management Inc. now owns 798 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 479 shares in the last quarter. Quantamental Technologies LLC purchased a new stake in Nektar Therapeutics during the 1st quarter worth about $27,000. Gemmer Asset Management LLC increased its position in Nektar Therapeutics by 476.8% during the 2nd quarter. Gemmer Asset Management LLC now owns 1,390 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 1,149 shares in the last quarter. Enterprise Financial Services Corp purchased a new stake in Nektar Therapeutics during the 1st quarter worth about $67,000. Finally, Belpointe Asset Management LLC purchased a new stake in Nektar Therapeutics during the 1st quarter worth about $100,000. 92.48% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:NKTR traded down $0.78 during trading on Wednesday, reaching $18.07. 84,682 shares of the stock were exchanged, compared to its average volume of 1,872,587. 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 12-month low of $17.50 and a 12-month high of $69.76. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of 4.80 and a beta of 2.67. The company has a 50-day moving average price of $31.37.

Nektar Therapeutics (NASDAQ:NKTR) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.63) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.80) by $0.17. Nektar Therapeutics had a negative return on equity of 24.67% and a negative net margin of 354.90%. The business had revenue of $23.32 million during the quarter, compared to analysts’ expectations of $26.65 million. During the same quarter in the previous year, the business earned $5.33 EPS. The company’s revenue for the quarter was down 97.9% on a year-over-year basis. On average, analysts expect that Nektar Therapeutics will post -3.13 earnings per share for the current fiscal year.

In other news, Director Lutz Lingnau sold 10,000 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $34.63, for a total transaction of $346,300.00. Following the completion of the sale, the director now owns 33,200 shares in the company, valued at approximately $1,149,716. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Stephen K. Doberstein sold 3,461 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $31.37, for a total value of $108,571.57. Following the sale, the senior vice president now owns 95,913 shares of the company’s stock, valued at approximately $3,008,790.81. The disclosure for this sale can be found here. Insiders have sold a total of 253,283 shares of company stock valued at $8,356,254 in the last quarter. Company insiders own 4.02% of the company’s stock.

NKTR has been the subject of a number of recent research reports. Cfra set a $35.00 price objective on Nektar Therapeutics and gave the stock a “hold” rating in a research report on Friday, August 9th. William Blair reiterated a “buy” rating on shares of Nektar Therapeutics in a research report on Friday, August 9th. BidaskClub cut Nektar Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 16th. JPMorgan Chase & Co. cut Nektar Therapeutics from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $62.00 to $33.00 in a research report on Friday, August 9th. Finally, HC Wainwright reiterated a “hold” rating on shares of Nektar Therapeutics in a research report on Tuesday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Nektar Therapeutics presently has an average rating of “Hold” and a consensus target price of $49.15.

Nektar Therapeutics 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.

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

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