Bank of New York Mellon Corp Grows Stock Position in Nektar Therapeutics (NASDAQ:NKTR)

Bank of New York Mellon Corp increased its position in shares of Nektar Therapeutics (NASDAQ:NKTR) by 2,822.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 551,535 shares of the biopharmaceutical company’s stock after purchasing an additional 532,663 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.30% of Nektar Therapeutics worth $684,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in NKTR. Values First Advisors Inc. acquired a new position in shares of Nektar Therapeutics during the 2nd quarter valued at about $56,000. State Board of Administration of Florida Retirement System acquired a new position in Nektar Therapeutics in the 1st quarter valued at about $63,000. SG Americas Securities LLC grew its stake in shares of Nektar Therapeutics by 63.0% in the 2nd quarter. SG Americas Securities LLC now owns 73,352 shares of the biopharmaceutical company’s stock valued at $91,000 after buying an additional 28,338 shares during the period. Marquette Asset Management LLC increased its holdings in shares of Nektar Therapeutics by 24.8% during the 1st quarter. Marquette Asset Management LLC now owns 232,289 shares of the biopharmaceutical company’s stock worth $217,000 after buying an additional 46,126 shares during the last quarter. Finally, Lynx1 Capital Management LP raised its position in shares of Nektar Therapeutics by 7.2% during the 1st quarter. Lynx1 Capital Management LP now owns 2,068,842 shares of the biopharmaceutical company’s stock valued at $1,933,000 after buying an additional 139,644 shares during the period. 75.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Nektar Therapeutics Trading Up 2.4 %

NASDAQ:NKTR opened at $1.30 on Monday. Nektar Therapeutics has a 12-month low of $0.41 and a 12-month high of $1.93. The firm has a market cap of $239.23 million, a price-to-earnings ratio of -1.41 and a beta of 0.60. The company’s 50-day moving average is $1.28 and its two-hundred day moving average is $1.29.

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

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.