Rhumbline Advisers Has $230,000 Stock Position in Nektar Therapeutics (NASDAQ:NKTR)

Rhumbline Advisers boosted its stake in shares of Nektar Therapeutics (NASDAQ:NKTR) by 3,377.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 185,116 shares of the biopharmaceutical company’s stock after buying an additional 179,792 shares during the period. Rhumbline Advisers’ holdings in Nektar Therapeutics were worth $230,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of NKTR. Values First Advisors Inc. purchased a new position in Nektar Therapeutics during the 2nd quarter worth approximately $56,000. State Board of Administration of Florida Retirement System purchased a new stake in shares of Nektar Therapeutics in the first quarter valued at $63,000. SG Americas Securities LLC boosted its position in shares of Nektar Therapeutics by 63.0% in the second quarter. SG Americas Securities LLC now owns 73,352 shares of the biopharmaceutical company’s stock worth $91,000 after buying an additional 28,338 shares during the period. Marquette Asset Management LLC grew its holdings in shares of Nektar Therapeutics by 24.8% during the first quarter. Marquette Asset Management LLC now owns 232,289 shares of the biopharmaceutical company’s stock valued at $217,000 after buying an additional 46,126 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Nektar Therapeutics by 2,822.5% during the second quarter. Bank of New York Mellon Corp now owns 551,535 shares of the biopharmaceutical company’s stock valued at $684,000 after buying an additional 532,663 shares during the period. 75.88% of the stock is owned by hedge funds and other institutional investors.

Nektar Therapeutics Trading Up 5.4 %

Nektar Therapeutics stock opened at $1.17 on Friday. The company has a market capitalization of $215.30 million, a P/E ratio of -1.27 and a beta of 0.60. Nektar Therapeutics has a 1-year low of $0.41 and a 1-year high of $1.93. The firm’s fifty day simple moving average is $1.25 and its 200-day simple moving average is $1.30.

Nektar Therapeutics (NASDAQ:NKTR) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.04). The firm had revenue of $23.49 million for the quarter, compared to analyst estimates of $17.24 million. Nektar Therapeutics had a negative return on equity of 133.64% and a negative net margin of 190.09%. During the same period in the prior year, the firm earned ($0.27) EPS. On average, equities research analysts predict that Nektar Therapeutics will post -0.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Rodman & Renshaw assumed coverage on Nektar Therapeutics in a research report on Friday, June 28th. They set a “buy” rating and a $2.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $1.50.

Nektar Therapeutics Profile

Nektar Therapeutics, a biopharmaceutical company, focuses on discovering and developing medicines in the field of immunotherapy in the United States and internationally. The company is developing rezpegaldesleukin, a cytokine Treg stimulant that is in phase 2 clinical trial for the treatment of systemic lupus erythematosus and ulcerative colitis, as well as phase 2b clinical trial to treat atopic dermatitis and psoriasis; and NKTR-255, an IL-15 receptor agonist, which is in phase 1 clinical trial to boost the immune system's natural ability to fight cancer.