Primecap Management Co. CA Sells 372,067 Shares of Nektar Therapeutics (NASDAQ:NKTR)

Primecap Management Co. CA lessened its stake in Nektar Therapeutics (NASDAQ:NKTR - Free Report) by 6.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,540,386 shares of the biopharmaceutical company's stock after selling 372,067 shares during the quarter. Primecap Management Co. CA owned 3.00% of Nektar Therapeutics worth $5,153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of NKTR. Valence8 US LP bought a new position in Nektar Therapeutics during the third quarter valued at approximately $34,000. Intech Investment Management LLC purchased a new position in shares of Nektar Therapeutics in the 3rd quarter worth $41,000. XTX Topco Ltd purchased a new position in shares of Nektar Therapeutics in the 3rd quarter worth $46,000. Moloney Securities Asset Management LLC increased its position in 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 acquiring an additional 14,895 shares during the last quarter. Finally, HB Wealth Management LLC lifted its holdings 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 during the period. Institutional investors own 75.88% of the company's stock.

Nektar Therapeutics Stock Performance

NKTR traded down $0.00 during trading on Monday, reaching $0.86. 1,585,162 shares of the company traded hands, compared to its average volume of 1,870,728. The company has a market cap of $160.16 million, a P/E ratio of -1.02 and a beta of 0.65. Nektar Therapeutics has a 12-month low of $0.65 and a 12-month high of $1.93. The firm has a fifty day simple moving average of $0.86 and a 200 day simple moving average of $1.06.

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. HC Wainwright restated a "buy" rating and set a $6.50 price target on shares of Nektar Therapeutics in a research note on Thursday, March 13th. B. Riley assumed coverage on shares of Nektar Therapeutics in a report on Wednesday, January 8th. They set a "buy" rating and a $4.00 target price for the company. Oppenheimer raised Nektar Therapeutics from a "market perform" rating to an "outperform" rating and set a $6.00 price target for the company in a report on Friday, March 14th. Finally, William Blair restated a "market perform" rating on shares of Nektar Therapeutics in a research note on Thursday, March 13th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $4.92.

Nektar Therapeutics 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.