Municipal Employees Retirement System of Michigan Has $1.41 Million Holdings in Nektar Therapeutics (NKTR)

Municipal Employees Retirement System of Michigan grew its position in Nektar Therapeutics (NASDAQ:NKTR) by 60.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 58,840 shares of the biopharmaceutical company’s stock after acquiring an additional 22,180 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Nektar Therapeutics were worth $1,412,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of NKTR. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Nektar Therapeutics by 14.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,603 shares of the biopharmaceutical company’s stock worth $110,000 after purchasing an additional 692 shares during the last quarter. LS Investment Advisors LLC raised its position in shares of Nektar Therapeutics by 8.8% during the 2nd quarter. LS Investment Advisors LLC now owns 6,594 shares of the biopharmaceutical company’s stock worth $129,000 after purchasing an additional 535 shares during the last quarter. Flinton Capital Management LLC raised its position in shares of Nektar Therapeutics by 75.7% during the 2nd quarter. Flinton Capital Management LLC now owns 7,872 shares of the biopharmaceutical company’s stock worth $154,000 after purchasing an additional 3,392 shares during the last quarter. Riverhead Capital Management LLC raised its position in shares of Nektar Therapeutics by 78.7% during the 2nd quarter. Riverhead Capital Management LLC now owns 8,754 shares of the biopharmaceutical company’s stock worth $171,000 after purchasing an additional 3,854 shares during the last quarter. Finally, World Asset Management Inc raised its position in shares of Nektar Therapeutics by 5.6% during the 2nd quarter. World Asset Management Inc now owns 10,167 shares of the biopharmaceutical company’s stock worth $199,000 after purchasing an additional 539 shares during the last quarter. Institutional investors and hedge funds own 94.97% of the company’s stock.

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Several research analysts recently weighed in on NKTR shares. BidaskClub upgraded shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. HC Wainwright started coverage on shares of Nektar Therapeutics in a research report on Monday, August 7th. They set a “buy” rating and a $31.00 price target for the company. Mizuho upped their price target on shares of Nektar Therapeutics from $30.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, November 14th. Jefferies Group LLC restated a “buy” rating and set a $35.00 price target on shares of Nektar Therapeutics in a research report on Wednesday, November 8th. Finally, Canaccord Genuity upped their price target on shares of Nektar Therapeutics from $35.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, November 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $35.58.

In related news, SVP Stephen K. Doberstein sold 396,323 shares of the stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $29.00, for a total transaction of $11,493,367.00. Following the completion of the transaction, the senior vice president now owns 52,016 shares of the company’s stock, valued at approximately $1,508,464. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Ivan P. Gergel sold 100,000 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $24.14, for a total transaction of $2,414,000.00. Following the sale, the senior vice president now owns 84,871 shares in the company, valued at $2,048,785.94. The disclosure for this sale can be found here. Insiders have sold a total of 941,427 shares of company stock valued at $24,663,626 in the last ninety days. 6.10% of the stock is currently owned by corporate insiders.

Nektar Therapeutics (NKTR) opened at $44.99 on Friday. The company has a current ratio of 4.14, a quick ratio of 3.99 and a debt-to-equity ratio of 2.91. Nektar Therapeutics has a 1 year low of $11.41 and a 1 year high of $46.98.

Nektar Therapeutics (NASDAQ:NKTR) last posted its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.16. The firm had revenue of $152.90 million during the quarter, compared to analysts’ expectations of $126.50 million. Nektar Therapeutics had a negative net margin of 42.08% and a negative return on equity of 190.68%. The firm’s quarterly revenue was up 321.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.32) EPS. equities analysts expect that Nektar Therapeutics will post -0.75 earnings per share for the current fiscal year.

About Nektar Therapeutics

Nektar Therapeutics is a biopharmaceutical company that discovers and develops medicines in areas of high unmet medical need. The Company’s research and development pipeline of new investigational drugs includes treatments for cancer, auto-immune disease and chronic pain. It leverages its chemistry platform to discover and design new drug candidates.

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

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