Nektar Therapeutics (NASDAQ:NKTR) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA trimmed its position in Nektar Therapeutics (NASDAQ:NKTR) by 13.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,020,453 shares of the biopharmaceutical company’s stock after selling 946,194 shares during the quarter. Primecap Management Co. CA owned about 3.27% of Nektar Therapeutics worth $7,465,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of NKTR. GSA Capital Partners LLP increased its holdings in Nektar Therapeutics by 185.5% in the 4th quarter. GSA Capital Partners LLP now owns 5,255,790 shares of the biopharmaceutical company’s stock worth $2,970,000 after buying an additional 3,414,712 shares during the period. State Board of Administration of Florida Retirement System acquired a new stake in shares of Nektar Therapeutics in the first quarter worth $63,000. Values First Advisors Inc. purchased a new position in shares of Nektar Therapeutics during the second quarter worth $56,000. SG Americas Securities LLC raised its holdings in shares of Nektar Therapeutics by 63.0% during the second quarter. SG Americas Securities LLC now owns 73,352 shares of the biopharmaceutical company’s stock worth $91,000 after purchasing an additional 28,338 shares during the last quarter. Finally, Candriam S.C.A. acquired a new position in Nektar Therapeutics during the second quarter valued at $99,000. Institutional investors and hedge funds own 75.88% of the company’s stock.

Nektar Therapeutics Trading Down 3.1 %

Nektar Therapeutics stock opened at $1.26 on Thursday. The firm has a market cap of $231.87 million, a PE ratio of -1.40 and a beta of 0.60. The stock’s 50 day simple moving average is $1.28 and its two-hundred day simple moving average is $1.28. Nektar Therapeutics has a 12 month low of $0.41 and a 12 month high of $1.93.

Nektar Therapeutics (NASDAQ:NKTR) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.04). Nektar Therapeutics had a negative return on equity of 133.64% and a negative net margin of 190.09%. The firm had revenue of $23.49 million for the quarter, compared to analysts’ expectations of $17.24 million. During the same period last year, the company posted ($0.27) earnings per share. On average, equities research analysts forecast that Nektar Therapeutics will post -0.85 EPS for the current year.

Analysts Set New Price Targets

Separately, Rodman & Renshaw began coverage on Nektar Therapeutics in a research report on Friday, June 28th. They set a “buy” rating and a $2.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $1.50.

About Nektar Therapeutics

Nektar Therapeutics, a biopharmaceutical company, focuses on discovering and developing medicines in the field of immunotherapy in the United States and internationally. The company is developing rezpegaldesleukin, a cytokine Treg stimulant that is in phase 2 clinical trial for the treatment of systemic lupus erythematosus and ulcerative colitis, as well as phase 2b clinical trial to treat atopic dermatitis and psoriasis; and NKTR-255, an IL-15 receptor agonist, which is in phase 1 clinical trial to boost the immune system's natural ability to fight cancer.