Nantahala Capital Management LLC Has $5.10 Million Stake in Nektar Therapeutics (NASDAQ:NKTR)

Nantahala Capital Management LLC grew its position in Nektar Therapeutics (NASDAQ:NKTR) by 66.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,110,000 shares of the biopharmaceutical company’s stock after purchasing an additional 1,634,046 shares during the period. Nantahala Capital Management LLC owned about 2.23% of Nektar Therapeutics worth $5,096,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. GSA Capital Partners LLP grew its position in shares of Nektar Therapeutics by 185.5% in the fourth quarter. GSA Capital Partners LLP now owns 5,255,790 shares of the biopharmaceutical company’s stock valued at $2,970,000 after purchasing an additional 3,414,712 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Nektar Therapeutics by 2,822.5% in the second quarter. Bank of New York Mellon Corp now owns 551,535 shares of the biopharmaceutical company’s stock worth $684,000 after buying an additional 532,663 shares during the period. Samlyn Capital LLC bought a new position in shares of Nektar Therapeutics during the second quarter valued at about $11,728,000. Armistice Capital LLC bought a new stake in shares of Nektar Therapeutics in the 2nd quarter worth approximately $1,037,000. Finally, State Board of Administration of Florida Retirement System purchased a new position in Nektar Therapeutics during the 1st quarter valued at $63,000. Institutional investors own 75.88% of the company’s stock.

Nektar Therapeutics Stock Up 11.1 %

NASDAQ:NKTR opened at $1.30 on Tuesday. The stock’s fifty day moving average is $1.25 and its two-hundred day moving average is $1.30. The company has a market capitalization of $239.23 million, a P/E ratio of -1.41 and a beta of 0.60. Nektar Therapeutics has a 52 week low of $0.41 and a 52 week high of $1.93.

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NKTR. BTIG Research restated a “buy” rating and set a $4.00 price target on shares of Nektar Therapeutics in a report on Monday. Rodman & Renshaw assumed coverage on Nektar Therapeutics in a research note on Friday, June 28th. They issued a “buy” rating and a $2.00 price target for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $2.33.

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.