Moloney Securities Asset Management LLC Sells 50,000 Shares of Nektar Therapeutics (NASDAQ:NKTR)

Moloney Securities Asset Management LLC lessened its stake in shares of Nektar Therapeutics (NASDAQ:NKTR) by 58.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 35,105 shares of the biopharmaceutical company’s stock after selling 50,000 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in Nektar Therapeutics were worth $46,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in NKTR. Samlyn Capital LLC acquired a new position in Nektar Therapeutics during the 2nd quarter worth $11,728,000. Millennium Management LLC boosted its stake in Nektar Therapeutics by 56.1% during the 2nd quarter. Millennium Management LLC now owns 4,659,469 shares of the biopharmaceutical company’s stock valued at $5,778,000 after purchasing an additional 1,674,924 shares during the period. Nantahala Capital Management LLC grew its holdings in Nektar Therapeutics by 66.0% in the 2nd quarter. Nantahala Capital Management LLC now owns 4,110,000 shares of the biopharmaceutical company’s stock valued at $5,096,000 after buying an additional 1,634,046 shares during the last quarter. Armistice Capital LLC bought a new position in Nektar Therapeutics in the 2nd quarter worth approximately $1,037,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of 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 worth $684,000 after buying an additional 532,663 shares during the last quarter. 75.88% of the stock is owned by institutional investors.

Nektar Therapeutics Stock Performance

Shares of NKTR stock opened at $1.37 on Friday. The firm has a fifty day moving average of $1.29 and a 200-day moving average of $1.34. The stock has a market cap of $252.19 million, a price-to-earnings ratio of -1.52 and a beta of 0.61. Nektar Therapeutics has a 52-week low of $0.41 and a 52-week high of $1.93.

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

Wall Street Analysts Forecast Growth

NKTR has been the topic of a number of research reports. Piper Sandler assumed coverage on shares of Nektar Therapeutics in a research report on Monday. They set an “overweight” rating and a $7.00 target price on the stock. BTIG Research reaffirmed a “buy” rating and set a $4.00 price objective on shares of Nektar Therapeutics in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $3.50.

About Nektar Therapeutics

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.