Valence8 US LP Purchases New Stake in Nektar Therapeutics (NASDAQ:NKTR)

Valence8 US LP acquired a new position in shares of Nektar Therapeutics (NASDAQ:NKTR) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 26,107 shares of the biopharmaceutical company’s stock, valued at approximately $34,000.

Other hedge funds have also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System acquired a new position in shares of Nektar Therapeutics in the 1st quarter valued at about $63,000. Lynx1 Capital Management LP boosted its stake in Nektar Therapeutics by 7.2% during the 1st quarter. Lynx1 Capital Management LP now owns 2,068,842 shares of the biopharmaceutical company’s stock valued at $1,933,000 after purchasing an additional 139,644 shares during the period. SG Americas Securities LLC increased its stake in shares of Nektar Therapeutics by 63.0% in the second quarter. SG Americas Securities LLC now owns 73,352 shares of the biopharmaceutical company’s stock valued at $91,000 after purchasing an additional 28,338 shares during the period. Values First Advisors Inc. acquired a new position in shares of Nektar Therapeutics during the second quarter worth approximately $56,000. Finally, Bank of New York Mellon Corp increased its position 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 valued at $684,000 after acquiring an additional 532,663 shares during the period. Institutional investors and hedge funds own 75.88% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on NKTR shares. Piper Sandler began coverage on shares of Nektar Therapeutics in a research note on Monday, November 4th. They set an “overweight” rating and a $7.00 price objective on the stock. BTIG Research reaffirmed a “buy” rating and issued a $4.00 price target on shares of Nektar Therapeutics in a research note on Monday, September 30th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $3.50.

Nektar Therapeutics Price Performance

Shares of Nektar Therapeutics stock opened at $1.01 on Friday. The stock has a 50-day simple moving average of $1.28 and a 200-day simple moving average of $1.32. Nektar Therapeutics has a 52-week low of $0.42 and a 52-week high of $1.93. The firm has a market cap of $186.30 million, a price-to-earnings ratio of -1.20 and a beta of 0.61.

Nektar Therapeutics Profile

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.