The Stocks: Nektar Therapeutics (NKTR) Shares Bought by Bank of New York Mellon Corp

The Stocks: Nektar Therapeutics (NKTR) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its position in shares of Nektar Therapeutics (NASDAQ:NKTR) by 3.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,825,071 shares of the biopharmaceutical company’s stock after buying an additional 56,079 shares during the period. Bank of New York Mellon Corp’s holdings in Nektar Therapeutics were worth $31,355,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in NKTR. TD Asset Management Inc. acquired a new position in shares of Nektar Therapeutics during the third quarter worth about $311,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its position in shares of Nektar Therapeutics by 133.9% in the third quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 90,510 shares of the biopharmaceutical company’s stock worth $1,555,000 after buying an additional 51,820 shares during the period. Aperio Group LLC raised its position in shares of Nektar Therapeutics by 53.9% in the third quarter. Aperio Group LLC now owns 41,553 shares of the biopharmaceutical company’s stock worth $714,000 after buying an additional 14,549 shares during the period. Quantitative Investment Management LLC raised its position in shares of Nektar Therapeutics by 18.3% in the third quarter. Quantitative Investment Management LLC now owns 69,100 shares of the biopharmaceutical company’s stock worth $1,187,000 after buying an additional 10,700 shares during the period. Finally, Quantbot Technologies LP acquired a new position in shares of Nektar Therapeutics during the third quarter worth about $272,000. Hedge funds and other institutional investors own 85.85% of the company’s stock.

Nektar Therapeutics (NASDAQ:NKTR) traded up 0.660% on Tuesday, hitting $12.965. The stock had a trading volume of 174,420 shares. The stock’s market cap is $1.98 billion. The stock’s 50 day moving average is $13.01 and its 200 day moving average is $15.41. Nektar Therapeutics has a one year low of $10.52 and a one year high of $19.98.

Nektar Therapeutics (NASDAQ:NKTR) last announced its quarterly earnings data on Thursday, November 3rd. The biopharmaceutical company reported ($0.32) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.36) by $0.04. Nektar Therapeutics had a negative return on equity of 8,769.15% and a negative net margin of 98.87%. The firm had revenue of $36.30 million for the quarter, compared to analyst estimates of $32.42 million. During the same quarter in the prior year, the company posted ($0.06) earnings per share. Nektar Therapeutics’s quarterly revenue was down 39.4% on a year-over-year basis. Analysts anticipate that Nektar Therapeutics will post ($1.07) earnings per share for the current year.

A number of research analysts have recently issued reports on the company. Piper Jaffray Cos. set a $25.00 target price on Nektar Therapeutics and gave the company a “buy” rating in a research report on Monday, December 12th. Aegis restated a “buy” rating on shares of Nektar Therapeutics in a report on Thursday, November 24th. Jefferies Group raised their price objective on Nektar Therapeutics from $14.00 to $15.00 and gave the company a “buy” rating in a report on Monday, November 7th. Brean Capital restated a “buy” rating and issued a $23.00 price objective on shares of Nektar Therapeutics in a report on Friday, September 30th. Finally, Zacks Investment Research upgraded Nektar Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, September 29th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $20.50.

In other Nektar Therapeutics news, Director R Scott Greer acquired 15,000 shares of the company’s stock in a transaction that occurred on Monday, October 24th. The shares were purchased at an average price of $13.50 per share, with a total value of $202,500.00. Following the completion of the acquisition, the director now directly owns 121,333 shares of the company’s stock, valued at approximately $1,637,995.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Howard W. Robin sold 87,500 shares of the company’s stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of $17.06, for a total value of $1,492,750.00. The disclosure for this sale can be found here. Corporate insiders own 6.10% of the company’s stock.

Nektar Therapeutics Company Profile

Nektar Therapeutics is a biopharmaceutical company. The Company is engaged in the development of a pipeline of drug candidates that utilize its PEGylation and advanced polymer conjugate technology platforms, which are designed to enable the development of new molecular entities that target known mechanisms of action.

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