The Manufacturers Life Insurance Company Makes New $86,000 Investment in Nektar Therapeutics (NASDAQ:NKTR)

The Manufacturers Life Insurance Company bought a new position in shares of Nektar Therapeutics (NASDAQ:NKTR) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 66,218 shares of the biopharmaceutical company’s stock, valued at approximately $86,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. acquired a new position in shares of Nektar Therapeutics in the 2nd quarter valued at approximately $29,000. Valence8 US LP bought a new stake in Nektar Therapeutics during the third quarter worth $34,000. Intech Investment Management LLC acquired a new stake in shares of Nektar Therapeutics in the 3rd quarter valued at $41,000. SG Americas Securities LLC raised its holdings in shares of Nektar Therapeutics by 63.0% during the 2nd quarter. SG Americas Securities LLC now owns 73,352 shares of the biopharmaceutical company’s stock worth $91,000 after buying an additional 28,338 shares in the last quarter. Finally, Candriam S.C.A. bought a new stake in shares of Nektar Therapeutics during the 2nd quarter worth $99,000. Institutional investors and hedge funds own 75.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on NKTR shares. Piper Sandler assumed coverage on Nektar Therapeutics in a research note on Monday, November 4th. They set an “overweight” rating and a $7.00 target price for the company. BTIG Research restated a “buy” rating and issued a $4.00 target price on shares of Nektar Therapeutics in a research report on Monday, September 30th. Finally, HC Wainwright started coverage on shares of Nektar Therapeutics in a report on Tuesday, December 10th. They set a “buy” rating and a $6.50 price target for the company. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $4.10.

Nektar Therapeutics Stock Performance

NKTR stock opened at $1.00 on Tuesday. The company has a market capitalization of $184.46 million, a P/E ratio of -1.19 and a beta of 0.57. The company has a fifty day moving average price of $1.21 and a 200-day moving average price of $1.24. Nektar Therapeutics has a 52-week low of $0.46 and a 52-week high of $1.93.

Nektar Therapeutics Company Profile

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.