Tang Capital Management adds Nektar Therapeutics (NKTR) to its portfolio

Nektar Therapeutics (NKTR) : Tang Capital Management added new position in Nektar Therapeutics during the most recent quarter end. The investment management firm now holds 260,000 shares of Nektar Therapeutics which is valued at $4,461,600 , the company said in a statement filed on Aug 15, 2016 with the SEC.Nektar Therapeutics makes up approximately 2.29% of Tang Capital Management’s portfolio.

Other Hedge Funds, Including , Cubist Systematic Strategies reduced its stake in NKTR by selling 38,517 shares or 95.1% in the most recent quarter. The Hedge Fund company now holds 1,983 shares of NKTR which is valued at $34,028.Parametric Portfolio Associates boosted its stake in NKTR in the latest quarter, The investment management firm added 2,439 additional shares and now holds a total of 188,196 shares of Nektar Therapeutics which is valued at $3,229,443.Piermont Capital Management boosted its stake in NKTR in the latest quarter, The investment management firm added 29,165 additional shares and now holds a total of 60,075 shares of Nektar Therapeutics which is valued at $1,030,887. Nektar Therapeutics makes up approx 0.25% of Piermont Capital Management’s portfolio.Tocqueville Asset Management reduced its stake in NKTR by selling 4,250 shares or 3.06% in the most recent quarter. The Hedge Fund company now holds 134,700 shares of NKTR which is valued at $2,328,963. Nektar Therapeutics makes up approx 0.03% of Tocqueville Asset Management’s portfolio.

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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