Metropolitan Life Insurance Co. NY cut its holdings in shares of Nektar Therapeutics (NASDAQ:NKTR) by 52.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,885 shares of the biopharmaceutical company’s stock after selling 34,996 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Nektar Therapeutics were worth $1,557,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Macquarie Group Ltd. grew its holdings in shares of Nektar Therapeutics by 966.0% during the 2nd quarter. Macquarie Group Ltd. now owns 165,000 shares of the biopharmaceutical company’s stock worth $8,057,000 after purchasing an additional 149,522 shares during the period. World Asset Management Inc grew its holdings in shares of Nektar Therapeutics by 16.6% during the 2nd quarter. World Asset Management Inc now owns 10,646 shares of the biopharmaceutical company’s stock worth $520,000 after purchasing an additional 1,513 shares during the period. MetLife Investment Advisors LLC grew its holdings in shares of Nektar Therapeutics by 72.3% during the 1st quarter. MetLife Investment Advisors LLC now owns 115,385 shares of the biopharmaceutical company’s stock worth $12,261,000 after purchasing an additional 48,428 shares during the period. Riverhead Capital Management LLC grew its holdings in shares of Nektar Therapeutics by 241.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 7,134 shares of the biopharmaceutical company’s stock worth $348,000 after purchasing an additional 5,042 shares during the period. Finally, Gateway Investment Advisers LLC purchased a new position in shares of Nektar Therapeutics during the 2nd quarter worth $342,000. Institutional investors and hedge funds own 92.20% of the company’s stock.
NKTR stock traded up $1.01 during mid-day trading on Friday, reaching $48.91. The company had a trading volume of 2,001,546 shares, compared to its average volume of 3,167,571. The company has a debt-to-equity ratio of 0.13, a current ratio of 19.67 and a quick ratio of 19.55. The firm has a market capitalization of $10.51 billion, a P/E ratio of -88.93 and a beta of 2.39. Nektar Therapeutics has a fifty-two week low of $22.75 and a fifty-two week high of $111.36.
Nektar Therapeutics (NASDAQ:NKTR) last posted its quarterly earnings results on Wednesday, August 8th. The biopharmaceutical company reported $5.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.22 by $0.11. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.03 billion. Nektar Therapeutics had a return on equity of 174.70% and a net margin of 65.69%. Nektar Therapeutics’s revenue for the quarter was up 3043.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.39) EPS. On average, analysts expect that Nektar Therapeutics will post 3.77 EPS for the current year.
NKTR has been the subject of a number of research analyst reports. ValuEngine upgraded Nektar Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday, August 28th. Piper Jaffray Companies set a $125.00 target price on Nektar Therapeutics and gave the company a “buy” rating in a report on Wednesday, July 25th. BidaskClub cut Nektar Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, September 18th. Zacks Investment Research cut Nektar Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, William Blair restated an “outperform” rating on shares of Nektar Therapeutics in a report on Thursday, August 9th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Nektar Therapeutics presently has a consensus rating of “Buy” and an average price target of $82.91.
In other Nektar Therapeutics news, Director R Scott Greer sold 10,000 shares of the stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $67.39, for a total value of $673,900.00. Following the sale, the director now owns 140,333 shares of the company’s stock, valued at approximately $9,457,040.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey Robert Ajer sold 6,750 shares of the stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $56.76, for a total value of $383,130.00. Following the completion of the sale, the director now directly owns 15,750 shares in the company, valued at approximately $893,970. The disclosure for this sale can be found here. Insiders sold a total of 96,000 shares of company stock worth $5,825,680 in the last ninety days. 4.31% of the stock is owned by corporate insiders.
Nektar Therapeutics Profile
Nektar Therapeutics, a research-based biopharmaceutical company, discovers and develops drug candidates for cancer, auto-immune disease, and chronic pain in the United States. The company offers ONZEALD, a topoisomerase I inhibitor that is in Phase III clinical trial for advanced metastatic breast cancer in patients with brain metastases; NKTR-181, an orally-available mu-opioid analgesic molecule, which is in Phase III clinical trial for moderate to severe chronic pain; NKTR-214, a cytokine immunostimulatory therapy that is in Phase I/II to treat cancer; NKTR-358, which is in Phase I to treat autoimmune diseases; and NKTR-262 for solid tumors, as well as NKTR-255 that is under research/preclinical stage for immuno-oncology.
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