Shell Asset Management Co. Reduces Stake in Nektar Therapeutics (NKTR)

Shell Asset Management Co. decreased its stake in Nektar Therapeutics (NASDAQ:NKTR) by 5.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,112 shares of the biopharmaceutical company’s stock after selling 2,857 shares during the period. Shell Asset Management Co.’s holdings in Nektar Therapeutics were worth $999,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Flinton Capital Management LLC increased its stake in Nektar Therapeutics by 11.1% in the first quarter. Flinton Capital Management LLC now owns 4,480 shares of the biopharmaceutical company’s stock valued at $105,000 after buying an additional 448 shares during the period. State of Alaska Department of Revenue increased its stake in Nektar Therapeutics by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 17,050 shares of the biopharmaceutical company’s stock valued at $400,000 after buying an additional 460 shares during the period. Louisiana State Employees Retirement System increased its stake in Nektar Therapeutics by 0.8% in the second quarter. Louisiana State Employees Retirement System now owns 63,200 shares of the biopharmaceutical company’s stock valued at $1,236,000 after buying an additional 500 shares during the period. LS Investment Advisors LLC increased its stake in Nektar Therapeutics by 8.8% in the second quarter. LS Investment Advisors LLC now owns 6,594 shares of the biopharmaceutical company’s stock valued at $129,000 after buying an additional 535 shares during the period. Finally, Municipal Employees Retirement System of Michigan increased its stake in Nektar Therapeutics by 1.7% in the first quarter. Municipal Employees Retirement System of Michigan now owns 34,920 shares of the biopharmaceutical company’s stock valued at $820,000 after buying an additional 570 shares during the period. Institutional investors own 93.02% of the company’s stock.

Shares of Nektar Therapeutics (NKTR) traded down 2.06% during mid-day trading on Friday, reaching $18.04. The company had a trading volume of 1,075,725 shares. The company’s market capitalization is $2.82 billion. Nektar Therapeutics has a 12 month low of $11.41 and a 12 month high of $24.88. The firm’s 50-day moving average is $20.49 and its 200 day moving average is $18.57.

Nektar Therapeutics (NASDAQ:NKTR) last announced its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by $0.04. The company had revenue of $34.60 million during the quarter, compared to analyst estimates of $33.64 million. Nektar Therapeutics had a negative net margin of 157.14% and a negative return on equity of 1,223.34%. Nektar Therapeutics’s revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.36) earnings per share. On average, equities research analysts predict that Nektar Therapeutics will post ($0.94) earnings per share for the current year.

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Several analysts have recently issued reports on the company. Jefferies Group LLC set a $25.00 price target on Nektar Therapeutics and gave the stock a “buy” rating in a research note on Saturday, April 22nd. BidaskClub upgraded Nektar Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday. William Blair reiterated an “outperform” rating on shares of Nektar Therapeutics in a research note on Tuesday, July 18th. HC Wainwright assumed coverage on Nektar Therapeutics in a research note on Monday, August 7th. They set a “buy” rating and a $31.00 price target for the company. Finally, Zacks Investment Research downgraded Nektar Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $26.10.

In other news, CEO Howard W. Robin sold 91,714 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $19.26, for a total transaction of $1,766,411.64. Following the completion of the transaction, the chief executive officer now owns 152,504 shares of the company’s stock, valued at approximately $2,937,227.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Jillian B. Thomsen sold 2,648 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $19.32, for a total value of $51,159.36. The disclosure for this sale can be found here. Insiders sold a total of 237,629 shares of company stock valued at $4,820,217 over the last ninety days. Insiders own 6.10% of the company’s stock.

Nektar Therapeutics Company Profile

Nektar Therapeutics is a biopharmaceutical company that discovers and develops medicines in areas of high unmet medical need. The Company’s research and development pipeline of new investigational drugs includes treatments for cancer, auto-immune disease and chronic pain. It leverages its chemistry platform to discover and design new drug candidates.

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

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