Comerica Bank Has $3.83 Million Stake in Nektar Therapeutics (NKTR)

Comerica Bank lowered its position in Nektar Therapeutics (NASDAQ:NKTR) by 73.7% in the 1st quarter, Holdings Channel reports. The firm owned 42,448 shares of the biopharmaceutical company’s stock after selling 119,208 shares during the period. Comerica Bank’s holdings in Nektar Therapeutics were worth $3,827,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Daiwa Securities Group Inc. purchased a new stake in shares of Nektar Therapeutics in the first quarter valued at about $111,000. BB&T Investment Services Inc. purchased a new stake in shares of Nektar Therapeutics in the fourth quarter valued at about $119,000. Meeder Asset Management Inc. purchased a new stake in shares of Nektar Therapeutics in the fourth quarter valued at about $121,000. Alps Advisors Inc. purchased a new stake in shares of Nektar Therapeutics in the first quarter valued at about $223,000. Finally, Certified Advisory Corp purchased a new stake in shares of Nektar Therapeutics in the fourth quarter valued at about $148,000. Institutional investors own 90.15% of the company’s stock.

Nektar Therapeutics opened at $79.23 on Friday, according to MarketBeat.com. The stock has a market cap of $14.29 billion, a P/E ratio of -144.05 and a beta of 1.79. The company has a debt-to-equity ratio of 4.21, a current ratio of 4.16 and a quick ratio of 4.03. Nektar Therapeutics has a fifty-two week low of $81.35 and a fifty-two week high of $83.77.

Nektar Therapeutics (NASDAQ:NKTR) last posted its quarterly earnings results on Thursday, May 10th. The biopharmaceutical company reported ($0.60) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.52) by ($0.08). The company had revenue of $38.02 million for the quarter, compared to the consensus estimate of $35.59 million. Nektar Therapeutics had a negative net margin of 40.07% and a negative return on equity of 202.41%. Nektar Therapeutics’s quarterly revenue was up 53.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.42) EPS. analysts predict that Nektar Therapeutics will post 2.58 earnings per share for the current year.

Several analysts have recently commented on NKTR shares. Mizuho set a $89.00 target price on shares of Nektar Therapeutics and gave the company a “buy” rating in a report on Thursday, March 29th. Piper Jaffray started coverage on shares of Nektar Therapeutics in a report on Friday, April 13th. They issued an “overweight” rating and a $125.00 target price for the company. Zacks Investment Research upgraded shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, February 21st. Canaccord Genuity increased their target price on shares of Nektar Therapeutics to $94.00 and gave the company a “buy” rating in a report on Friday, March 2nd. Finally, Cowen reiterated a “buy” rating and issued a $101.00 target price on shares of Nektar Therapeutics in a report on Friday, March 2nd. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $79.50.

In other Nektar Therapeutics news, CEO Howard W. Robin sold 130,000 shares of the stock in a transaction dated Thursday, May 3rd. The shares were sold at an average price of $84.05, for a total transaction of $10,926,500.00. Following the completion of the transaction, the chief executive officer now owns 280,481 shares in the company, valued at $23,574,428.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Howard W. Robin sold 43,334 shares of the stock in a transaction dated Tuesday, May 1st. The stock was sold at an average price of $83.65, for a total transaction of $3,624,889.10. Following the transaction, the chief executive officer now owns 280,481 shares of the company’s stock, valued at approximately $23,462,235.65. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 797,359 shares of company stock valued at $73,089,550. 6.10% of the stock is owned by company insiders.

About Nektar Therapeutics

Nektar Therapeutics, a research-based biopharmaceutical company, discovers and develops drug candidates for cancer, auto-immune disease, and chronic pain based on its PEGylation and polymer conjugate technology platforms in the United States. The company offers ONZEALD, a topoisomerase I inhibitor that is in Phase III clinical trial for advanced metastatic breast cancer in patients with brain metastases; NKTR-181, an orally-available mu-opioid analgesic molecule, which is in Phase III clinical trial for moderate to severe chronic pain; NKTR-214, a cytokine immunostimulatory therapy that is in Phase I/II to treat cancer; NKTR-358, which is in Phase I to treat autoimmune diseases; and NKTR-262 for solid tumors, as well as NKTR-255 that is under research/preclinical stage for immuno-oncology.

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Institutional Ownership by Quarter for Nektar Therapeutics (NASDAQ:NKTR)

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