Connor Clark & Lunn Investment Management Ltd. Acquires 34,599 Shares of Nektar Therapeutics (NASDAQ:NKTR)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Nektar Therapeutics (NASDAQ:NKTR) by 5.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 650,841 shares of the biopharmaceutical company’s stock after acquiring an additional 34,599 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Nektar Therapeutics were worth $846,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NKTR. Victory Capital Management Inc. bought a new position in Nektar Therapeutics in the second quarter worth $29,000. Values First Advisors Inc. purchased a new stake in shares of Nektar Therapeutics in the second quarter worth $56,000. State Board of Administration of Florida Retirement System purchased a new stake in shares of Nektar Therapeutics in the first quarter worth $63,000. SG Americas Securities LLC grew its stake 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 acquiring an additional 28,338 shares during the last quarter. Finally, Candriam S.C.A. purchased a new stake in shares of Nektar Therapeutics in the second quarter worth $99,000. Institutional investors own 75.88% of the company’s stock.

Nektar Therapeutics Stock Performance

Shares of NASDAQ:NKTR opened at $1.13 on Thursday. The stock has a market capitalization of $208.44 million, a price-to-earnings ratio of -1.33 and a beta of 0.61. The stock’s 50-day simple moving average is $1.26 and its two-hundred day simple moving average is $1.30. Nektar Therapeutics has a 52-week low of $0.42 and a 52-week high of $1.93.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Piper Sandler assumed coverage on Nektar Therapeutics in a research note on Monday, November 4th. They issued an “overweight” rating and a $7.00 target price on the stock. BTIG Research reissued a “buy” rating and issued a $4.00 target price on shares of Nektar Therapeutics in a research note on Monday, September 30th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Nektar Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $3.50.

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.