Harvey Capital Management Inc Lowers stake in Nektar Therapeutics (NKTR)

Nektar Therapeutics (NKTR) : Harvey Capital Management Inc reduced its stake in Nektar Therapeutics by 7.69% during the most recent quarter end. The investment management company now holds a total of 552,400 shares of Nektar Therapeutics which is valued at $8,959,928 after selling 46,000 shares in Nektar Therapeutics , the firm said in a disclosure report filed with the SEC on Apr 19, 2016.Nektar Therapeutics makes up approximately 4.14% of Harvey Capital Management Inc’s portfolio.

Nektar Therapeutics opened for trading at $15.77 and hit $16.34 on the upside on Friday, eventually ending the session at $16.22, with a gain of 2.85% or 0.45 points. The heightened volatility saw the trading volume jump to 10,01,026 shares. Company has a market cap of $2,205 M.

Other Hedge Funds, Including , Rhenman Partners Asset Management Ab reduced its stake in NKTR by selling 56,000 shares or 9.64% in the most recent quarter. The Hedge Fund company now holds 525,000 shares of NKTR which is valued at $8,515,500. Nektar Therapeutics makes up approx 1.54% of Rhenman Partners Asset Management Ab’s portfolio. Simplex Trading added NKTR to its portfolio by purchasing 1,435 company shares during the most recent quarter which is valued at $21,719.Franklin Street Advisors Inc Nc reduced its stake in NKTR by selling 8,000 shares or 6.6% in the most recent quarter. The Hedge Fund company now holds 113,300 shares of NKTR which is valued at $1,714,796. Nektar Therapeutics makes up approx 0.33% of Franklin Street Advisors Inc Nc’s portfolio.Capstone Asset Management Co reduced its stake in NKTR by selling 2,070 shares or 4.45% in the most recent quarter. The Hedge Fund company now holds 44,439 shares of NKTR which is valued at $672,584. Nektar Therapeutics makes up approx 0.02% of Capstone Asset Management Co’s portfolio.

On the company’s financial health, Nektar Therapeutics reported $-0.40 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Mar 1, 2016. Analyst had a consensus of $-0.41. The company had revenue of $39.40 million for the quarter, compared to analysts expectations of $28.87 million. The company’s revenue was up 101.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.35 EPS.

Nektar Therapeutics is a clinical-stage biopharmaceutical company. The Company is engaged in the development of a pipeline of drug candidates that utilize its PEGylation and advanced polymer conjugate technology platforms which are designed to enable the development of new molecular entities that target known mechanisms of action. The Company’s pipeline is comprised of drug candidates for therapeutic areas including oncology pain anti-infectives and immunology. The Company’s research and development activities involve small molecule drugs peptides and other potential biologic drug candidates. Its drug candidates are designed to improve the pharmacokinetics pharmacodynamics half-life bioavailability metabolism or distribution of drugs and improve the overall benefits and use of a drug for the patient. Its polymer chemistry platform is being used to create specialized therapeutics including small molecule oral and parenteral drugs proteins peptides and antibody fragments.

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