Geode Capital Management LLC Sells 149,416 Shares of Nektar Therapeutics (NASDAQ:NKTR)

Geode Capital Management LLC trimmed its position in shares of Nektar Therapeutics (NASDAQ:NKTR) by 3.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,963,083 shares of the biopharmaceutical company’s stock after selling 149,416 shares during the period. Geode Capital Management LLC’s holdings in Nektar Therapeutics were worth $5,153,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its stake in shares of Nektar Therapeutics by 30.4% during the third quarter. SG Americas Securities LLC now owns 95,637 shares of the biopharmaceutical company’s stock valued at $124,000 after buying an additional 22,285 shares during the last quarter. Victory Capital Management Inc. bought a new position in Nektar Therapeutics in the 2nd quarter valued at $29,000. Valence8 US LP bought a new stake in shares of Nektar Therapeutics during the third quarter worth $34,000. Jane Street Group LLC boosted its stake in shares of Nektar Therapeutics by 50.0% during the third quarter. Jane Street Group LLC now owns 91,470 shares of the biopharmaceutical company’s stock valued at $119,000 after purchasing an additional 30,481 shares during the period. Finally, Intech Investment Management LLC bought a new position in shares of Nektar Therapeutics in the third quarter worth about $41,000. 75.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NKTR has been the topic of a number of research analyst reports. BTIG Research restated a “buy” rating and issued a $4.00 target price on shares of Nektar Therapeutics in a research note on Monday, September 30th. Piper Sandler began coverage on Nektar Therapeutics in a report on Monday, November 4th. They set an “overweight” rating and a $7.00 price objective on the stock. Finally, HC Wainwright began coverage on Nektar Therapeutics in a report on Tuesday, December 10th. They issued a “buy” rating and a $6.50 target price for the company. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Nektar Therapeutics has an average rating of “Moderate Buy” and an average target price of $4.10.

Nektar Therapeutics Price Performance

Shares of NKTR stock opened at $1.10 on Friday. The stock’s 50-day moving average is $1.09 and its 200 day moving average is $1.21. Nektar Therapeutics has a 1-year low of $0.48 and a 1-year high of $1.93. The company has a market cap of $202.90 million, a P/E ratio of -1.31 and a beta of 0.57.

Insider Activity

In related news, insider Jonathan Zalevsky sold 51,115 shares of the company’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $0.94, for a total transaction of $48,048.10. Following the transaction, the insider now directly owns 326,904 shares of the company’s stock, valued at $307,289.76. This represents a 13.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Mark Andrew Wilson sold 33,402 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $0.90, for a total value of $30,061.80. Following the completion of the sale, the insider now directly owns 351,892 shares of the company’s stock, valued at approximately $316,702.80. This represents a 8.67 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 155,575 shares of company stock worth $149,878. Corporate insiders own 3.71% of the company’s stock.

Nektar Therapeutics Company 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.