JPMorgan Chase & Co. Buys 606,057 Shares of Nektar Therapeutics (NASDAQ:NKTR)

JPMorgan Chase & Co. boosted its stake in Nektar Therapeutics (NASDAQ:NKTR - Free Report) by 197.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 913,300 shares of the biopharmaceutical company's stock after purchasing an additional 606,057 shares during the period. JPMorgan Chase & Co. owned about 0.50% of Nektar Therapeutics worth $1,187,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of NKTR. Eventide Asset Management LLC increased its stake in Nektar Therapeutics by 24.8% in the 3rd quarter. Eventide Asset Management LLC now owns 9,400,000 shares of the biopharmaceutical company's stock worth $12,220,000 after purchasing an additional 1,870,904 shares during the period. Millennium Management LLC boosted its position 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 purchasing an additional 1,674,924 shares in the last quarter. Nantahala Capital Management LLC boosted its position in shares of Nektar Therapeutics by 66.0% during the second quarter. Nantahala Capital Management LLC now owns 4,110,000 shares of the biopharmaceutical company's stock valued at $5,096,000 after purchasing an additional 1,634,046 shares in the last quarter. Armistice Capital LLC bought a new stake in shares of Nektar Therapeutics during the second quarter valued at approximately $1,037,000. Finally, Wellington Management Group LLP bought a new stake in shares of Nektar Therapeutics during the third quarter valued at approximately $615,000. 75.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NKTR has been the topic of several research reports. HC Wainwright restated a "buy" rating and set a $6.50 price target on shares of Nektar Therapeutics in a research report on Monday, January 13th. B. Riley assumed coverage on Nektar Therapeutics in a research report on Wednesday, January 8th. They set a "buy" rating and a $4.00 price target on the stock. BTIG Research reiterated a "buy" rating and set a $4.00 price objective on shares of Nektar Therapeutics in a research note on Monday, September 30th. Finally, Piper Sandler assumed coverage on Nektar Therapeutics in a research note on Monday, November 4th. They set an "overweight" rating and a $7.00 price objective for the company. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $4.08.

Nektar Therapeutics Stock Performance

Shares of NKTR stock traded down $0.01 during mid-day trading on Friday, hitting $0.88. The company's stock had a trading volume of 1,492,645 shares, compared to its average volume of 1,257,588. Nektar Therapeutics has a 52-week low of $0.50 and a 52-week high of $1.93. The business has a 50-day moving average price of $1.00 and a 200 day moving average price of $1.19. The stock has a market cap of $163.23 million, a price-to-earnings ratio of -1.05 and a beta of 0.59.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.05. Nektar Therapeutics had a negative return on equity of 173.28% and a negative net margin of 180.70%. The firm had revenue of $24.12 million during the quarter, compared to analysts' expectations of $15.54 million. During the same quarter in the previous year, the business earned ($0.19) earnings per share. Equities research analysts predict that Nektar Therapeutics will post -0.72 EPS for the current fiscal year.

Insider Transactions at Nektar Therapeutics

In related news, insider Mark Andrew Wilson sold 33,402 shares of the company's stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $0.90, for a total transaction of $30,061.80. Following the completion of the sale, the insider now owns 351,892 shares in the company, valued at approximately $316,702.80. This represents a 8.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Howard W. Robin sold 46,995 shares of the company's stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $1.01, for a total value of $47,464.95. Following the sale, the chief executive officer now owns 1,195,710 shares of the company's stock, valued at approximately $1,207,667.10. This trade represents a 3.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 155,575 shares of company stock worth $149,878 over the last quarter. 3.71% of the stock is currently owned by insiders.

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.