Acuitas Investments LLC Sells 400,700 Shares of Nektar Therapeutics (NASDAQ:NKTR)

Acuitas Investments LLC trimmed its stake in shares of Nektar Therapeutics (NASDAQ:NKTR) by 31.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 879,904 shares of the biopharmaceutical company’s stock after selling 400,700 shares during the quarter. Acuitas Investments LLC owned 0.48% of Nektar Therapeutics worth $1,091,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. bought a new position in shares of Nektar Therapeutics during the 2nd quarter valued at $29,000. Rhumbline Advisers boosted its position in shares of Nektar Therapeutics by 3,377.0% in the 2nd quarter. Rhumbline Advisers now owns 185,116 shares of the biopharmaceutical company’s stock worth $230,000 after purchasing an additional 179,792 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Nektar Therapeutics by 2,822.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 551,535 shares of the biopharmaceutical company’s stock worth $684,000 after purchasing an additional 532,663 shares in the last quarter. Values First Advisors Inc. bought a new position in Nektar Therapeutics in the 2nd quarter valued at approximately $56,000. Finally, SG Americas Securities LLC raised its position in Nektar Therapeutics by 63.0% in the 2nd 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 last quarter. Institutional investors own 75.88% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Nektar Therapeutics Price Performance

NASDAQ:NKTR opened at $1.17 on Friday. Nektar Therapeutics has a 1-year low of $0.41 and a 1-year high of $1.93. The firm has a market capitalization of $214.38 million, a price-to-earnings ratio of -1.23 and a beta of 0.66. The company’s 50-day moving average is $1.28 and its two-hundred day moving average is $1.24.

Nektar Therapeutics (NASDAQ:NKTR) last announced its 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 net margin of 190.09% and a negative return on equity of 133.64%. The business had revenue of $23.49 million during the quarter, compared to analyst estimates of $17.24 million. During the same period in the previous year, the firm earned ($0.27) earnings per share. As a group, equities analysts anticipate that Nektar Therapeutics will post -0.85 earnings per share for the current fiscal year.

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.