SummitTX Capital L.P. Grows Stock Holdings in Nektar Therapeutics $NKTR

SummitTX Capital L.P. grew its position in Nektar Therapeutics (NASDAQ:NKTR) by 35.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 42,624 shares of the biopharmaceutical company’s stock after buying an additional 11,271 shares during the period. SummitTX Capital L.P. owned 0.13% of Nektar Therapeutics worth $3,067,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of NKTR. BNP Paribas Financial Markets lifted its position in Nektar Therapeutics by 93.8% during the third quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 210 shares during the last quarter. KBC Group NV purchased a new position in Nektar Therapeutics in the first quarter worth $52,000. Headlands Technologies LLC purchased a new position in Nektar Therapeutics in the second quarter worth $65,000. State of Wyoming acquired a new position in shares of Nektar Therapeutics during the first quarter worth $67,000. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Nektar Therapeutics during the first quarter worth $68,000. Hedge funds and other institutional investors own 75.88% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on NKTR shares. Jefferies Financial Group reissued a “buy” rating on shares of Nektar Therapeutics in a research report on Wednesday, April 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nektar Therapeutics in a research report on Tuesday, June 2nd. Wall Street Zen upgraded Nektar Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. HC Wainwright increased their price target on Nektar Therapeutics from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Finally, Wedbush lowered their price target on Nektar Therapeutics from $95.00 to $80.00 and set a “neutral” rating for the company in a report on Monday, May 11th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $150.00.

Insider Activity

In other Nektar Therapeutics news, CEO Howard W. Robin sold 10,000 shares of Nektar Therapeutics stock in a transaction dated Tuesday, June 16th. The stock was 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 owned 65,045 shares in the company, valued at approximately $3,923,514.40. This trade represents a 13.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jonathan Zalevsky sold 5,681 shares of Nektar Therapeutics stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $70.00, for a total value of $397,670.00. Following the transaction, the insider owned 9,756 shares of the company’s stock, valued at $682,920. The trade was a 36.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 21,862 shares of company stock worth $1,379,205 over the last ninety days. 2.50% of the stock is owned by insiders.

Nektar Therapeutics Price Performance

NKTR stock opened at $70.77 on Wednesday. The company has a market capitalization of $2.39 billion, a P/E ratio of -8.40 and a beta of 1.13. Nektar Therapeutics has a 12 month low of $21.02 and a 12 month high of $109.00. The firm’s fifty day simple moving average is $65.50 and its 200-day simple moving average is $65.98.

Nektar Therapeutics (NASDAQ:NKTR) last issued its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.58) by ($0.24). The business had revenue of $10.86 million for the quarter, compared to analysts’ expectations of $10.69 million. Nektar Therapeutics had a negative return on equity of 85.40% and a negative net margin of 284.18%. As a group, sell-side analysts forecast that Nektar Therapeutics will post -9.37 earnings per share for the current year.

Nektar Therapeutics Company 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.