BlackRock Fund Advisors recently announced the acquisition of new stake in Nektar Therapeutics (NASDAQ:NKTR). The institutional investor has increased its shareholding in the Healthcare company by 9.48% to 31.21 million shares with purchase of 2.7 million shares. This fresh investment now brings its stake to 16.61% valued currently at $87.05 million. In addition, Geode Capital Management LLC raised its holdings by 0.12 million to 3.44 million shares. And Jacobs Levy Equity Management, In has lifted its position by 147.69% or 1.53 million shares – to 2.57 million shares.
With over 1.98 million Nektar Therapeutics (NKTR) shares trading Tuesday and a closing price of $1.20 on the day, the dollar volume was approximately $2.37 million. Currently, there are 188.25M common shares owned by the public and among those 185.37M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 10 analysts who have offered their price forecasts for NKTR have a consensus price objective of $2.93. The analysts have set the share’s price value over the next 12 months at a high of $6.00 and a low of $1.50. The average price target is 59.04% above its recent price level and an upside to the estimated low will see the stock gain 20.0% over that period. But an upside of 80.0% will see the stock hit the forecast high price target while median target price for the stock is $3.00.
Insiders at the company have transacted a total of 38 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 15 of these insider trades were purchases, accounting for 1,081,001 shares. Insider sales of the common stock occurred on 23 occasions, with total insider shares sold totaling 347,132 shares.
The top 3 mutual fund holders in Nektar Therapeutics are Invesco Global Opportunities Fund, iShares Core S&P Small Cap ETF, and Vanguard Health Care Fund. Invesco Global Opportunities Fund owns 35.77 million shares of the company’s stock, all valued at over $99.77 million. iShares Core S&P Small Cap ETF bought 34554.0 shares to see its total holdings expand to 14.21 million shares valued at over $39.64 million and representing 7.56% of the shares outstanding. Vanguard Health Care Fund now owns shares totaling to 6.06% of the shares outstanding.
Shares of Nektar Therapeutics (NASDAQ: NKTR) opened at $1.24, up $0.04 from a prior closing price of $1.20. The company’s stock has a 5-day price change of -9.77% and -57.14% over the past three months. NKTR shares are trading -46.90% year to date (YTD), with the 12-month market performance down to -88.71% lower. It has a 12-month low price of $1.15 and touched a high of $6.39 over the same period. NKTR has an average intraday trading volume of 2.05 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -40.87%, -48.92%, and -63.68% respectively.
Institutional ownership of Nektar Therapeutics (NASDAQ: NKTR) shares accounts for 94.80% of the company’s 188.25M shares outstanding. Mutual fund holders own 3.19%, while other institutional holders and individual stakeholders account for 73.78% and 15.95% respectively.
It has a market capitalization of $232.84M and a beta (3y monthly) value of 1.17. The earnings-per-share (ttm) stands at -$1.97. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.65% over the week and 8.43% over the month.
Analysts forecast that Nektar Therapeutics (NKTR) will achieve an EPS of -$0.45 for the current quarter, -$0.24 for the next quarter and -$0.98 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.55 while analysts give the company a high EPS estimate of -$0.24. Comparatively, EPS for the current quarter was -$0.79 a year ago. Earnings per share for the fiscal year are expected to increase by 31.20%, and 13.80% over the next financial year. EPS should grow at an annualized rate of -7.30% over the next five years, compared to -32.10% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 10 brokerage firm advisors rate Nektar Therapeutics (NKTR) as a “Hold” at a consensus score of 3.50. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 7 of the 10 advise that investors “hold,” and 2 rated it as a “Sell.”
Looking at the support for the NKTR, a number of firms have released research notes about the stock. Jefferies stated their Underperform rating for the stock in a research note on February 24, 2023, with the firm’s price target at $3.20-$1.50. Jefferies was of a view on May 31, 2022 that the stock is Hold, while Goldman gave the stock Sell rating on April 18, 2022, issuing a price target of $3. Mizuho on their part issued Neutral rating on March 15, 2022.
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