United Services Automobile Association Grows Stake in Nektar Therapeutics (NASDAQ:NKTR)

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United Services Automobile Association boosted its position in Nektar Therapeutics (NASDAQ:NKTR) by 2.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 50,077 shares of the biopharmaceutical company’s stock after purchasing an additional 1,281 shares during the period. United Services Automobile Association’s holdings in Nektar Therapeutics were worth $2,445,000 as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of the stock. FMR LLC lifted its position in Nektar Therapeutics by 6.7% during the second quarter. FMR LLC now owns 25,705,902 shares of the biopharmaceutical company’s stock worth $1,255,220,000 after acquiring an additional 1,608,834 shares during the last quarter. OppenheimerFunds Inc. raised its position in shares of Nektar Therapeutics by 7.9% in the second quarter. OppenheimerFunds Inc. now owns 11,560,779 shares of the biopharmaceutical company’s stock valued at $564,512,000 after buying an additional 845,257 shares in the last quarter. Advisors Asset Management Inc. acquired a new stake in shares of Nektar Therapeutics in the second quarter valued at approximately $373,000. BB Biotech AG acquired a new stake in shares of Nektar Therapeutics in the second quarter valued at approximately $25,636,000. Finally, Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Nektar Therapeutics in the second quarter valued at approximately $24,191,000. Institutional investors and hedge funds own 92.72% of the company’s stock.

In other news, Director R Scott Greer sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $67.39, for a total transaction of $673,900.00. Following the transaction, the director now owns 140,333 shares in the company, valued at $9,457,040.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dennis L. Winger sold 34,250 shares of the company’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $60.60, for a total transaction of $2,075,550.00. Following the transaction, the director now owns 59,875 shares in the company, valued at approximately $3,628,425. The disclosure for this sale can be found here. In the last 90 days, insiders sold 96,000 shares of company stock worth $5,825,680. 4.31% of the stock is owned by company insiders.

A number of brokerages recently issued reports on NKTR. Cowen reissued a “buy” rating and issued a $86.00 price objective on shares of Nektar Therapeutics in a research note on Thursday, August 9th. TheStreet cut shares of Nektar Therapeutics from a “c” rating to a “d+” rating in a research note on Wednesday. ValuEngine raised shares of Nektar Therapeutics from a “hold” rating to a “buy” rating in a research note on Tuesday, August 28th. BidaskClub raised shares of Nektar Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 14th. Finally, Piper Jaffray Companies set a $125.00 target price on shares of Nektar Therapeutics and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company’s stock. Nektar Therapeutics has a consensus rating of “Buy” and a consensus price target of $79.55.

NKTR stock traded down $1.29 during midday trading on Friday, hitting $34.02. The stock had a trading volume of 2,896,498 shares, compared to its average volume of 2,502,319. The firm has a market cap of $6.55 billion, a price-to-earnings ratio of -61.85 and a beta of 2.91. The company has a quick ratio of 19.55, a current ratio of 19.67 and a debt-to-equity ratio of 0.13. Nektar Therapeutics has a 1-year low of $31.37 and a 1-year high of $111.36.

Nektar Therapeutics (NASDAQ:NKTR) last released its earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $0.07. The business had revenue of $27.80 million for the quarter, compared to analyst estimates of $26.08 million. Nektar Therapeutics had a net margin of 59.71% and a return on equity of 113.04%. Nektar Therapeutics’s revenue for the quarter was down 81.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.37 earnings per share. Research analysts expect that Nektar Therapeutics will post 3.57 earnings per share for the current year.

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About Nektar Therapeutics

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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Institutional Ownership by Quarter for Nektar Therapeutics (NASDAQ:NKTR)

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