Monashee Investment Management LLC Buys New Shares in Nektar Therapeutics $NKTR

Monashee Investment Management LLC bought a new stake in Nektar Therapeutics (NASDAQ:NKTR) in the fourth quarter, HoldingsChannel reports. The fund bought 94,134 shares of the biopharmaceutical company’s stock, valued at approximately $3,980,000. Nektar Therapeutics accounts for approximately 2.2% of Monashee Investment Management LLC’s investment portfolio, making the stock its 18th biggest position.

A number of other hedge funds have also added to or reduced their stakes in the business. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. grew its position in Nektar Therapeutics by 22.3% in the fourth quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. now owns 188,112 shares of the biopharmaceutical company’s stock valued at $7,953,000 after purchasing an additional 34,266 shares in the last quarter. Deutsche Bank AG grew its position in Nektar Therapeutics by 0.8% in the fourth quarter. Deutsche Bank AG now owns 90,743 shares of the biopharmaceutical company’s stock valued at $3,837,000 after purchasing an additional 743 shares in the last quarter. Fox Run Management L.L.C. bought a new position in Nektar Therapeutics in the fourth quarter valued at $1,121,000. Erste Asset Management GmbH grew its position in Nektar Therapeutics by 64.7% in the fourth quarter. Erste Asset Management GmbH now owns 28,000 shares of the biopharmaceutical company’s stock valued at $1,196,000 after purchasing an additional 11,000 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Nektar Therapeutics by 793,605.3% in the fourth quarter. JPMorgan Chase & Co. now owns 150,804 shares of the biopharmaceutical company’s stock valued at $6,376,000 after purchasing an additional 150,785 shares in the last quarter. Institutional investors own 75.88% of the company’s stock.

Nektar Therapeutics Stock Performance

Nektar Therapeutics stock opened at $59.21 on Friday. Nektar Therapeutics has a 52 week low of $7.99 and a 52 week high of $109.00. The stock has a market capitalization of $2.00 billion, a P/E ratio of -7.03 and a beta of 1.13. The stock has a 50-day simple moving average of $74.92 and a 200 day simple moving average of $62.24.

Nektar Therapeutics (NASDAQ:NKTR) last posted its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing analysts’ consensus estimates of ($1.58) by ($0.24). Nektar Therapeutics had a negative return on equity of 85.40% and a negative net margin of 284.18%.The business had revenue of $10.86 million for the quarter, compared to the consensus estimate of $10.69 million. Research analysts forecast that Nektar Therapeutics will post -9.45 earnings per share for the current year.

Analyst Ratings Changes

NKTR has been the subject of a number of analyst reports. Jefferies Financial Group reaffirmed a “buy” rating on shares of Nektar Therapeutics in a research report on Wednesday, April 22nd. Wedbush cut their price target on shares of Nektar Therapeutics from $95.00 to $80.00 and set a “neutral” rating for the company in a research note on Monday, May 11th. B. Riley Financial reiterated a “buy” rating and issued a $150.00 price target (up from $105.00) on shares of Nektar Therapeutics in a research note on Monday, February 23rd. BTIG Research boosted their price objective on shares of Nektar Therapeutics from $151.00 to $178.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Finally, Wall Street Zen upgraded shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $149.63.

Insider Buying and Selling

In related news, CEO Howard W. Robin sold 444 shares of Nektar Therapeutics stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $65.51, for a total transaction of $29,086.44. Following the completion of the transaction, the chief executive officer owned 75,045 shares in the company, valued at approximately $4,916,197.95. This trade represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 2.50% of the company’s stock.

Nektar Therapeutics Company Profile

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.