Eventide Asset Management LLC Buys 1,870,904 Shares of Nektar Therapeutics (NASDAQ:NKTR)

Eventide Asset Management LLC increased its holdings in shares of Nektar Therapeutics (NASDAQ:NKTR - Free Report) by 24.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,400,000 shares of the biopharmaceutical company's stock after acquiring an additional 1,870,904 shares during the period. Eventide Asset Management LLC owned approximately 5.10% of Nektar Therapeutics worth $12,220,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bank of New York Mellon Corp boosted its position in shares of Nektar Therapeutics by 2,822.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 551,535 shares of the biopharmaceutical company's stock worth $684,000 after purchasing an additional 532,663 shares in the last quarter. Nantahala Capital Management LLC boosted its holdings in Nektar Therapeutics by 66.0% in the second quarter. Nantahala Capital Management LLC now owns 4,110,000 shares of the biopharmaceutical company's stock worth $5,096,000 after acquiring an additional 1,634,046 shares in the last quarter. Samlyn Capital LLC purchased a new stake in shares of Nektar Therapeutics in the second quarter worth $11,728,000. Millennium Management LLC increased its holdings in shares of Nektar Therapeutics by 56.1% during the second quarter. Millennium Management LLC now owns 4,659,469 shares of the biopharmaceutical company's stock valued at $5,778,000 after acquiring an additional 1,674,924 shares in the last quarter. Finally, Armistice Capital LLC purchased a new position in shares of Nektar Therapeutics in the 2nd quarter worth about $1,037,000. Hedge funds and other institutional investors own 75.88% of the company's stock.

Nektar Therapeutics Trading Up 0.9 %

NASDAQ:NKTR traded up $0.01 during mid-day trading on Friday, reaching $1.14. The company's stock had a trading volume of 962,009 shares, compared to its average volume of 1,764,150. Nektar Therapeutics has a 12-month low of $0.46 and a 12-month high of $1.93. The stock has a market cap of $210.28 million, a P/E ratio of -1.36 and a beta of 0.61. The firm's fifty day moving average price is $1.26 and its two-hundred day moving average price is $1.30.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Piper Sandler assumed coverage on shares of Nektar Therapeutics in a research report on Monday, November 4th. They set an "overweight" rating and a $7.00 price objective on the stock. BTIG Research reiterated a "buy" rating and set a $4.00 price target on shares of Nektar Therapeutics in a report on Monday, September 30th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $3.50.

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.