Geode Capital Management LLC Sells 149,416 Shares of Nektar Therapeutics (NASDAQ:NKTR)

Geode Capital Management LLC trimmed its position in Nektar Therapeutics (NASDAQ:NKTR) by 3.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,963,083 shares of the biopharmaceutical company’s stock after selling 149,416 shares during the quarter. Geode Capital Management LLC owned 2.15% of Nektar Therapeutics worth $5,153,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its holdings in Nektar Therapeutics by 30.4% during the 3rd quarter. SG Americas Securities LLC now owns 95,637 shares of the biopharmaceutical company’s stock valued at $124,000 after purchasing an additional 22,285 shares during the period. Victory Capital Management Inc. purchased a new position in shares of Nektar Therapeutics during the second quarter valued at approximately $29,000. Valence8 US LP bought a new position in shares of Nektar Therapeutics during the third quarter valued at approximately $34,000. Jane Street Group LLC raised its holdings in shares of Nektar Therapeutics by 50.0% during the third quarter. Jane Street Group LLC now owns 91,470 shares of the biopharmaceutical company’s stock valued at $119,000 after acquiring an additional 30,481 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in Nektar Therapeutics in the third quarter worth $41,000. 75.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NKTR has been the topic of a number of research reports. HC Wainwright assumed coverage on shares of Nektar Therapeutics in a research note on Tuesday, December 10th. They set a “buy” rating and a $6.50 target price on the stock. Piper Sandler began coverage on Nektar Therapeutics in a report on Monday, November 4th. They set an “overweight” rating and a $7.00 target price on the stock. Finally, BTIG Research reissued a “buy” rating and issued a $4.00 target price on shares of Nektar Therapeutics in a research report on Monday, September 30th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Nektar Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $4.10.

Nektar Therapeutics Trading Up 14.5 %

Nektar Therapeutics stock opened at $1.10 on Friday. Nektar Therapeutics has a 12-month low of $0.48 and a 12-month high of $1.93. The firm has a market capitalization of $202.90 million, a price-to-earnings ratio of -1.31 and a beta of 0.57. The firm has a 50 day moving average of $1.09 and a 200 day moving average of $1.21.

Insider Activity at Nektar Therapeutics

In other Nektar Therapeutics news, CEO Howard W. Robin sold 46,995 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $1.01, for a total transaction of $47,464.95. Following the completion of the sale, the chief executive officer now directly owns 1,195,710 shares of the company’s stock, valued at $1,207,667.10. This trade represents a 3.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jonathan Zalevsky sold 51,115 shares of the business’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $0.94, for a total transaction of $48,048.10. Following the completion of the transaction, the insider now directly owns 326,904 shares in the company, valued at $307,289.76. This trade represents a 13.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 155,575 shares of company stock worth $149,878. 3.71% of the stock is owned by corporate insiders.

Nektar Therapeutics 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.