Jacobs Levy Equity Management Inc. Sells 79,988 Shares of Nektar Therapeutics (NASDAQ:NKTR)

Jacobs Levy Equity Management Inc. reduced its holdings in Nektar Therapeutics (NASDAQ:NKTR) by 2.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,793,204 shares of the biopharmaceutical company’s stock after selling 79,988 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 1.51% of Nektar Therapeutics worth $3,631,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Victory Capital Management Inc. bought a new stake in Nektar Therapeutics in the second quarter valued at $29,000. Valence8 US LP purchased a new stake in shares of Nektar Therapeutics in the 3rd quarter worth about $34,000. Intech Investment Management LLC bought a new stake in shares of Nektar Therapeutics during the 3rd quarter valued at about $41,000. Values First Advisors Inc. purchased a new position in shares of Nektar Therapeutics during the second quarter valued at about $56,000. Finally, Erste Asset Management GmbH bought a new position in Nektar Therapeutics in the third quarter worth about $61,000. 75.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NKTR has been the topic of several research reports. Piper Sandler initiated coverage on Nektar Therapeutics in a research report on Monday, November 4th. They set an “overweight” rating and a $7.00 price objective on the stock. BTIG Research restated a “buy” rating and set a $4.00 price target on shares of Nektar Therapeutics in a research report on Monday, September 30th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $3.50.

Nektar Therapeutics Stock Performance

Shares of NASDAQ NKTR opened at $1.02 on Friday. The company has a 50 day simple moving average of $1.24 and a two-hundred day simple moving average of $1.27. Nektar Therapeutics has a fifty-two week low of $0.46 and a fifty-two week high of $1.93. The company has a market capitalization of $188.15 million, a price-to-earnings ratio of -1.21 and a beta of 0.57.

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.