Seven Fleet Capital Management LP Makes New Investment in Nektar Therapeutics $NKTR

Seven Fleet Capital Management LP purchased a new stake in shares of Nektar Therapeutics (NASDAQ:NKTR) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,000 shares of the biopharmaceutical company’s stock, valued at approximately $634,000. Seven Fleet Capital Management LP owned 0.07% of Nektar Therapeutics at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in NKTR. BNP Paribas Financial Markets lifted its position in shares of Nektar Therapeutics by 93.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 210 shares during the last quarter. Compass Wealth Management LLC acquired a new stake in Nektar Therapeutics in the 3rd quarter valued at approximately $88,000. Quarry LP bought a new position in Nektar Therapeutics in the 4th quarter worth approximately $85,000. Flagship Harbor Advisors LLC bought a new position in Nektar Therapeutics in the 4th quarter worth approximately $92,000. Finally, Headlands Technologies LLC acquired a new position in shares of Nektar Therapeutics during the second quarter worth approximately $65,000. 75.88% of the stock is owned by institutional investors and hedge funds.

Nektar Therapeutics Trading Up 0.1%

NKTR opened at $60.98 on Friday. The stock has a market cap of $2.06 billion, a PE ratio of -7.24 and a beta of 1.13. Nektar Therapeutics has a 1 year low of $8.27 and a 1 year high of $109.00. The stock’s 50 day simple moving average is $73.36 and its 200-day simple moving average is $62.16.

Nektar Therapeutics (NASDAQ:NKTR) last issued its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing the consensus estimate of ($1.58) by ($0.24). Nektar Therapeutics had a negative return on equity of 85.40% and a negative net margin of 284.18%.The firm had revenue of $10.86 million during the quarter, compared to the consensus estimate of $10.69 million. Equities analysts forecast that Nektar Therapeutics will post -9.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NKTR. B. Riley Financial restated a “buy” rating and issued a $150.00 price objective (up from $105.00) on shares of Nektar Therapeutics in a research note on Monday, February 23rd. Citigroup upped their target price on shares of Nektar Therapeutics from $123.00 to $151.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Nektar Therapeutics in a report on Tuesday, June 2nd. Jefferies Financial Group restated a “buy” rating on shares of Nektar Therapeutics in a research report on Wednesday, April 22nd. Finally, HC Wainwright boosted their price objective on shares of Nektar Therapeutics from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $149.62.

Insiders Place Their Bets

In other news, CEO Howard W. Robin sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $60.32, for a total transaction of $603,200.00. Following the completion of the transaction, the chief executive officer directly owned 65,045 shares of the company’s stock, valued at approximately $3,923,514.40. This trade represents a 13.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan Zalevsky sold 5,538 shares of Nektar Therapeutics stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $60.71, for a total transaction of $336,211.98. Following the sale, the insider owned 15,437 shares in the company, valued at approximately $937,180.27. This trade represents a 26.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 16,181 shares of company stock valued at $981,535. Corporate insiders own 2.50% of the company’s stock.

Nektar Therapeutics Profile

Nektar Therapeutics (NASDAQ:NKTR) is a biopharmaceutical company dedicated to discovering and developing novel drug candidates through its proprietary chemistry and immunology platforms. The company focuses on polymer conjugate technology, which enables the creation of longer-acting versions of existing drugs, and on T-cell modulatory therapies aimed at harnessing the body’s immune system to treat cancer and other serious diseases.

Nektar’s product portfolio and pipeline include a range of clinical-stage and partnered programs.