Primecap Management Co. CA Has $7.47 Million Stock Holdings in Nektar Therapeutics (NASDAQ:NKTR)

Primecap Management Co. CA lowered its holdings in Nektar Therapeutics (NASDAQ:NKTR - Free Report) by 13.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,020,453 shares of the biopharmaceutical company's stock after selling 946,194 shares during the quarter. Primecap Management Co. CA owned about 3.27% of Nektar Therapeutics worth $7,465,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in NKTR. Victory Capital Management Inc. acquired a new position in shares of Nektar Therapeutics during the second quarter valued at $29,000. Values First Advisors Inc. acquired a new position in shares of Nektar Therapeutics during the second quarter valued at $56,000. State Board of Administration of Florida Retirement System acquired a new position in shares of Nektar Therapeutics during the first quarter valued at $63,000. SG Americas Securities LLC lifted its stake in shares of Nektar Therapeutics by 63.0% during the second quarter. SG Americas Securities LLC now owns 73,352 shares of the biopharmaceutical company's stock valued at $91,000 after acquiring an additional 28,338 shares during the period. Finally, Candriam S.C.A. acquired a new position in shares of Nektar Therapeutics during the second quarter valued at $99,000. Institutional investors and hedge funds own 75.88% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Rodman & Renshaw initiated coverage on Nektar Therapeutics in a report on Friday, June 28th. They issued a "buy" rating and a $2.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $1.50.

Nektar Therapeutics Stock Up 0.8 %

NASDAQ NKTR traded up $0.01 on Thursday, reaching $1.27. The company had a trading volume of 501,917 shares, compared to its average volume of 1,808,015. The stock's 50 day moving average is $1.28 and its 200-day moving average is $1.28. The stock has a market cap of $233.71 million, a price-to-earnings ratio of -1.37 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 - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.04). Nektar Therapeutics had a negative return on equity of 133.64% and a negative net margin of 190.09%. The business had revenue of $23.49 million during the quarter, compared to the consensus estimate of $17.24 million. During the same quarter last year, the company earned ($0.27) earnings per share. As a group, analysts forecast that Nektar Therapeutics will post -0.85 EPS for the current year.

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.