State Board of Administration of Florida Retirement System Sells 179,002 Shares of Nektar Therapeutics (NASDAQ:NKTR)

State Board of Administration of Florida Retirement System trimmed its position in shares of Nektar Therapeutics (NASDAQ:NKTRGet Rating) by 70.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 73,567 shares of the biopharmaceutical company’s stock after selling 179,002 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Nektar Therapeutics were worth $280,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of NKTR. Nisa Investment Advisors LLC lifted its position in shares of Nektar Therapeutics by 964.1% during the second quarter. Nisa Investment Advisors LLC now owns 12,141 shares of the biopharmaceutical company’s stock worth $46,000 after acquiring an additional 11,000 shares in the last quarter. Verition Fund Management LLC purchased a new stake in shares of Nektar Therapeutics during the first quarter worth $55,000. Arete Wealth Advisors LLC purchased a new stake in shares of Nektar Therapeutics during the first quarter worth $59,000. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Nektar Therapeutics during the first quarter worth $61,000. Finally, KBC Group NV lifted its position in shares of Nektar Therapeutics by 75.4% during the second quarter. KBC Group NV now owns 16,233 shares of the biopharmaceutical company’s stock worth $62,000 after acquiring an additional 6,979 shares in the last quarter. 96.99% of the stock is owned by institutional investors.

Insider Buying and Selling at Nektar Therapeutics

In other Nektar Therapeutics news, Director Karin Eastham sold 21,267 shares of the firm’s stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $3.61, for a total transaction of $76,773.87. Following the sale, the director now owns 13,033 shares in the company, valued at $47,049.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Jonathan Zalevsky sold 13,460 shares of the firm’s stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $3.57, for a total transaction of $48,052.20. Following the transaction, the insider now directly owns 313,663 shares of the company’s stock, valued at $1,119,776.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Karin Eastham sold 21,267 shares of the firm’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $3.61, for a total value of $76,773.87. Following the transaction, the director now directly owns 13,033 shares in the company, valued at $47,049.13. The disclosure for this sale can be found here. Insiders have sold 88,034 shares of company stock worth $313,411 over the last 90 days. Corporate insiders own 3.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on NKTR shares. StockNews.com started coverage on Nektar Therapeutics in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. JPMorgan Chase & Co. downgraded Nektar Therapeutics from a “neutral” rating to an “underweight” rating in a research report on Monday, August 8th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $8.40.

Nektar Therapeutics Stock Down 3.7 %

NASDAQ NKTR opened at $3.36 on Tuesday. The stock’s 50-day simple moving average is $3.53 and its two-hundred day simple moving average is $3.80. Nektar Therapeutics has a twelve month low of $2.96 and a twelve month high of $15.94. The company has a market capitalization of $631.53 million, a price-to-earnings ratio of -1.38 and a beta of 1.24.

Nektar Therapeutics Company Profile

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Nektar Therapeutics, a biopharmaceutical company, focuses on discovering and developing medicines in areas of unmet medical need in the United States and internationally. The company's products include Bempegaldesleukin, a CD122-preferential interleukin-2 (IL-2) pathway agonist, which is in phase 3 clinical trial to treat metastatic melanoma, renal cell carcinoma, muscle-invasive bladder cancer, squamous cell carcinoma of the head and neck, and adjuvant melanoma; phase 2 clinical trial for the treatment of renal cell carcinoma, non-small cell lung cancer, and urothelial cancer; phase 1/2A clinical trial to treat squamous cell carcinoma of the head and neck; phase 1/2 clinical trial for the treatment of solid tumors; and phase 1B clinical trial to treat COVID-19.

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

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