Cormorant Asset Management buys $34,320,000 stake in Nektar Therapeutics (NKTR)

Nektar Therapeutics (NKTR) : Cormorant Asset Management scooped up 1,234,844 additional shares in Nektar Therapeutics during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 2,000,000 shares of Nektar Therapeutics which is valued at $34,320,000.Nektar Therapeutics makes up approximately 4.37% of Cormorant Asset Management’s portfolio.

Other Hedge Funds, Including , Springbok Capital Management reduced its stake in NKTR by selling 2,124 shares or 16.13% in the most recent quarter. The Hedge Fund company now holds 11,048 shares of NKTR which is valued at $189,584. Nektar Therapeutics makes up approx 0.03% of Springbok Capital Management’s portfolio.Paradigm Asset Management Co reduced its stake in NKTR by selling 10,200 shares or 59.3% in the most recent quarter. The Hedge Fund company now holds 7,000 shares of NKTR which is valued at $120,120. Nektar Therapeutics makes up approx 0.02% of Paradigm Asset Management Co’s portfolio.Camber Capital Management reduced its stake in NKTR by selling 250,000 shares or 5.56% in the most recent quarter. The Hedge Fund company now holds 4,250,000 shares of NKTR which is valued at $72,930,000. Nektar Therapeutics makes up approx 3.88% of Camber Capital Management’s portfolio.Tiaa Cref Investment Management reduced its stake in NKTR by selling 20,930 shares or 3.54% in the most recent quarter. The Hedge Fund company now holds 570,890 shares of NKTR which is valued at $9,796,472. Nektar Therapeutics makes up approx 0.01% of Tiaa Cref Investment Management’s portfolio. Strs Ohio added NKTR to its portfolio by purchasing 3,300 company shares during the most recent quarter which is valued at $100,122.

Nektar Therapeutics opened for trading at $17.85 and hit $18.12 on the upside on Thursday, eventually ending the session at $18.11, with a gain of 1.46% or 0.26 points. The heightened volatility saw the trading volume jump to 11,64,150 shares. Company has a market cap of $2,476 M.

On the company’s financial health, Nektar Therapeutics reported $-0.36 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus of $-0.33. The company had revenue of $32.77 million for the quarter, compared to analysts expectations of $29.36 million. The company’s revenue was up 44.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.40 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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