Altium Capital Management LLC Grows Position in Nektar Therapeutics (NASDAQ:NKTR)

Altium Capital Management LLC increased its position in shares of Nektar Therapeutics (NASDAQ:NKTR - Free Report) by 26,172.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,000,000 shares of the biopharmaceutical company's stock after purchasing an additional 2,988,581 shares during the period. Altium Capital Management LLC owned approximately 1.63% of Nektar Therapeutics worth $2,790,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. XTX Topco Ltd purchased a new position in Nektar Therapeutics in the 3rd quarter worth about $46,000. Moloney Securities Asset Management LLC lifted its position in shares of Nektar Therapeutics by 42.4% during the fourth quarter. Moloney Securities Asset Management LLC now owns 50,000 shares of the biopharmaceutical company's stock valued at $46,000 after buying an additional 14,895 shares during the last quarter. HB Wealth Management LLC boosted its stake in Nektar Therapeutics by 44.0% in the fourth quarter. HB Wealth Management LLC now owns 64,100 shares of the biopharmaceutical company's stock valued at $60,000 after acquiring an additional 19,600 shares in the last quarter. Jane Street Group LLC boosted its position in shares of Nektar Therapeutics by 50.0% in the 3rd quarter. Jane Street Group LLC now owns 91,470 shares of the biopharmaceutical company's stock worth $119,000 after purchasing an additional 30,481 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in Nektar Therapeutics by 50.6% in the fourth quarter. Sei Investments Co. now owns 94,152 shares of the biopharmaceutical company's stock worth $88,000 after acquiring an additional 31,654 shares in the last quarter. Institutional investors own 75.88% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on NKTR shares. B. Riley began coverage on shares of Nektar Therapeutics in a research note on Wednesday, January 8th. They set a "buy" rating and a $4.00 price objective for the company. HC Wainwright reissued a "buy" rating and issued a $6.50 price objective on shares of Nektar Therapeutics in a report on Thursday, March 13th. StockNews.com started coverage on shares of Nektar Therapeutics in a report on Wednesday, April 16th. They set a "hold" rating for the company. Jefferies Financial Group upgraded Nektar Therapeutics from a "hold" rating to a "buy" rating and lifted their price target for the company from $1.00 to $2.00 in a research note on Friday, April 11th. Finally, William Blair reaffirmed a "market perform" rating on shares of Nektar Therapeutics in a research note on Thursday, March 13th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $4.50.

Nektar Therapeutics Price Performance

Nektar Therapeutics stock traded up $0.02 during trading on Wednesday, reaching $0.68. 662,003 shares of the company were exchanged, compared to its average volume of 1,794,070. The stock's 50 day simple moving average is $0.76 and its two-hundred day simple moving average is $0.96. The company has a market capitalization of $127.00 million, a P/E ratio of -0.81 and a beta of 0.69. Nektar Therapeutics has a 52-week low of $0.43 and a 52-week high of $1.93.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last announced its quarterly earnings results on Wednesday, March 12th. The biopharmaceutical company reported $0.15 earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.33. Nektar Therapeutics had a negative net margin of 180.70% and a negative return on equity of 173.28%. The firm had revenue of $29.18 million for the quarter, compared to analysts' expectations of $36.65 million. As a group, equities analysts forecast that Nektar Therapeutics will post -0.72 earnings per share for the current 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.