Nektar Therapeutics (NASDAQ:NKTR) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its stake in shares of Nektar Therapeutics (NASDAQ:NKTR – Get Rating) by 6.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 132,586 shares of the biopharmaceutical company’s stock after selling 9,224 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.07% of Nektar Therapeutics worth $424,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Xponance Inc. acquired a new position in shares of Nektar Therapeutics during the third quarter worth about $33,000. Louisiana State Employees Retirement System acquired a new position in Nektar Therapeutics in the third quarter valued at approximately $286,000. Federated Hermes Inc. acquired a new position in Nektar Therapeutics in the second quarter valued at approximately $410,000. Walleye Capital LLC boosted its holdings in Nektar Therapeutics by 29.9% in the second quarter. Walleye Capital LLC now owns 486,724 shares of the biopharmaceutical company’s stock valued at $1,850,000 after purchasing an additional 112,024 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Nektar Therapeutics by 42.8% in the second quarter. Goldman Sachs Group Inc. now owns 701,883 shares of the biopharmaceutical company’s stock valued at $2,667,000 after purchasing an additional 210,436 shares in the last quarter. 92.30% of the stock is owned by institutional investors and hedge funds.

Nektar Therapeutics Price Performance

Nektar Therapeutics stock opened at $2.27 on Wednesday. Nektar Therapeutics has a 12 month low of $1.99 and a 12 month high of $11.59. The business has a 50 day simple moving average of $2.65 and a 200-day simple moving average of $3.43. The stock has a market capitalization of $426.66 million, a PE ratio of -0.93 and a beta of 1.04.

Nektar Therapeutics (NASDAQ:NKTR – Get Rating) last released its quarterly earnings results on Thursday, November 3rd. The biopharmaceutical company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.47) by $0.23. Nektar Therapeutics had a negative return on equity of 81.70% and a negative net margin of 477.85%. The business had revenue of $23.63 million during the quarter, compared to analysts’ expectations of $23.31 million. As a group, equities research analysts anticipate that Nektar Therapeutics will post -2.14 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Nektar Therapeutics in a report on Wednesday, October 12th. They issued a “hold” rating for the company. 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’s stock. Based on data from MarketBeat.com, Nektar Therapeutics has an average rating of “Hold” and an average target price of $8.40.

Insider Transactions at Nektar Therapeutics

In other Nektar Therapeutics news, insider Jonathan Zalevsky sold 13,460 shares of the stock in a transaction on Wednesday, November 16th. The stock was sold at an average price of $3.57, for a total value of $48,052.20. Following the completion of the transaction, the insider now owns 313,663 shares in the company, valued at $1,119,776.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Nektar Therapeutics news, insider Jonathan Zalevsky sold 13,460 shares of the stock in a transaction on Wednesday, November 16th. The stock was sold at an average price of $3.57, for a total value of $48,052.20. Following the completion of the transaction, the insider now owns 313,663 shares in the company, valued at $1,119,776.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jillian B. Thomsen sold 11,095 shares of the stock in a transaction on Wednesday, November 16th. The stock was sold at an average price of $3.57, for a total value of $39,609.15. Following the completion of the transaction, the chief financial officer now owns 323,764 shares of the company’s stock, valued at approximately $1,155,837.48. The disclosure for this sale can be found here. Insiders sold 62,569 shares of company stock worth $223,371 over the last 90 days. 3.38% of the stock is currently owned by insiders.

About Nektar Therapeutics

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Nektar Therapeutics is a research-based biopharmaceutical company which engages in discovering and developing medicines in areas of unmet medical need. Its research and development pipeline of new investigational drugs includes therapies for oncology, immunology and virology. The firm focuses on using new chemistry approaches to make medicines to treat cancer and autoimmune diseases.