Renaissance Technologies LLC Raises Stock Position in Nektar Therapeutics (NASDAQ:NKTR)

Renaissance Technologies LLC grew its position in shares of Nektar Therapeutics (NASDAQ:NKTR - Free Report) by 17.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,910,786 shares of the biopharmaceutical company's stock after buying an additional 583,153 shares during the quarter. Renaissance Technologies LLC owned 2.12% of Nektar Therapeutics worth $3,637,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Moloney Securities Asset Management LLC lifted its stake in shares of Nektar Therapeutics by 42.4% in the 4th quarter. Moloney Securities Asset Management LLC now owns 50,000 shares of the biopharmaceutical company's stock worth $46,000 after purchasing an additional 14,895 shares during the period. HB Wealth Management LLC grew its position in shares of Nektar Therapeutics by 44.0% during the 4th 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. Sei Investments Co. increased its stake in shares of Nektar Therapeutics by 50.6% in the 4th quarter. Sei Investments Co. now owns 94,152 shares of the biopharmaceutical company's stock worth $88,000 after purchasing an additional 31,654 shares in the last quarter. SG Americas Securities LLC raised its holdings in Nektar Therapeutics by 12.2% in the 4th quarter. SG Americas Securities LLC now owns 107,318 shares of the biopharmaceutical company's stock worth $100,000 after purchasing an additional 11,681 shares during the period. Finally, Wells Fargo & Company MN lifted its position in Nektar Therapeutics by 26.5% during the fourth quarter. Wells Fargo & Company MN now owns 108,975 shares of the biopharmaceutical company's stock valued at $101,000 after purchasing an additional 22,822 shares in the last quarter. Institutional investors own 75.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NKTR. StockNews.com started coverage on Nektar Therapeutics in a research report on Wednesday, April 16th. They set a "hold" rating on the stock. B. Riley began coverage on shares of Nektar Therapeutics in a research note on Wednesday, January 8th. They issued a "buy" rating and a $4.00 price objective for the company. William Blair reaffirmed a "market perform" rating on shares of Nektar Therapeutics in a report on Thursday, March 13th. HC Wainwright reaffirmed a "buy" rating and issued a $6.50 price objective on shares of Nektar Therapeutics in a research note on Thursday, March 13th. Finally, Oppenheimer raised Nektar Therapeutics from a "market perform" rating to an "outperform" rating and set a $6.00 target price on the stock in a research note on Friday, March 14th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $4.50.

Nektar Therapeutics Stock Performance

NASDAQ NKTR opened at $0.66 on Wednesday. The stock has a 50 day moving average price of $0.76 and a 200-day moving average price of $0.96. Nektar Therapeutics has a one year low of $0.43 and a one year high of $1.93. The company has a market capitalization of $123.57 million, a P/E ratio of -0.79 and a beta of 0.69.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last issued its quarterly earnings data on Wednesday, March 12th. The biopharmaceutical company reported $0.15 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $29.18 million during the quarter, compared to analysts' expectations of $36.65 million. As a group, equities analysts predict that Nektar Therapeutics will post -0.72 EPS for the current fiscal year.

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.

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