Seven Fleet Capital Management LP Has $309,000 Position in Nektar Therapeutics $NKTR

Seven Fleet Capital Management LP cut its stake in Nektar Therapeutics (NASDAQ:NKTR) by 71.3% in the first quarter, HoldingsChannel.com reports. The fund owned 4,300 shares of the biopharmaceutical company’s stock after selling 10,700 shares during the period. Seven Fleet Capital Management LP’s holdings in Nektar Therapeutics were worth $309,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. BNP Paribas Financial Markets boosted its stake in Nektar Therapeutics by 93.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 210 shares during the last quarter. KBC Group NV bought a new stake in Nektar Therapeutics in the first quarter valued at approximately $52,000. Headlands Technologies LLC acquired a new stake in Nektar Therapeutics in the second quarter worth $65,000. State of Wyoming acquired a new stake in Nektar Therapeutics in the first quarter worth $67,000. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Nektar Therapeutics during the first quarter worth $68,000. 75.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Jonathan Zalevsky sold 5,681 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $70.00, for a total value of $397,670.00. Following the sale, the insider directly owned 9,756 shares in the company, valued at $682,920. The trade was a 36.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Howard W. Robin sold 10,000 shares of the company’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $60.32, for a total value of $603,200.00. Following the transaction, the chief executive officer directly owned 65,045 shares of the company’s stock, valued at $3,923,514.40. This represents a 13.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 21,862 shares of company stock worth $1,379,205 in the last three months. Company insiders own 2.50% of the company’s stock.

Nektar Therapeutics Stock Down 1.1%

Shares of NASDAQ:NKTR opened at $70.67 on Friday. Nektar Therapeutics has a 12 month low of $21.02 and a 12 month high of $109.00. The company’s fifty day simple moving average is $65.66 and its 200 day simple moving average is $66.44. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of -8.39 and a beta of 1.13.

Nektar Therapeutics (NASDAQ:NKTR) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing the consensus estimate of ($1.58) by ($0.24). The company had revenue of $10.86 million during the quarter, compared to the consensus estimate of $10.69 million. Nektar Therapeutics had a negative net margin of 284.18% and a negative return on equity of 85.40%. Research analysts expect that Nektar Therapeutics will post -9.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NKTR has been the subject of several research analyst reports. Piper Sandler boosted their price target on shares of Nektar Therapeutics from $105.00 to $192.00 and gave the company an “overweight” rating in a report on Friday, May 8th. BTIG Research raised their price objective on Nektar Therapeutics from $151.00 to $178.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Jefferies Financial Group reiterated a “buy” rating on shares of Nektar Therapeutics in a report on Wednesday, April 22nd. Wall Street Zen raised Nektar Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Nektar Therapeutics in a report on Tuesday, June 2nd. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Nektar Therapeutics has an average rating of “Moderate Buy” and an average target price of $150.00.

About Nektar Therapeutics

Nektar Therapeutics (NASDAQ:NKTR) is a biopharmaceutical company dedicated to discovering and developing novel drug candidates through its proprietary chemistry and immunology platforms. The company focuses on polymer conjugate technology, which enables the creation of longer-acting versions of existing drugs, and on T-cell modulatory therapies aimed at harnessing the body’s immune system to treat cancer and other serious diseases.

Nektar’s product portfolio and pipeline include a range of clinical-stage and partnered programs.