Rhenman Partners Asset Management Ab Lowers stake in Nektar Therapeutics (NKTR)

Nektar Therapeutics (NKTR) : Rhenman Partners Asset Management Ab reduced its stake in Nektar Therapeutics by 10.48% during the most recent quarter end. The investment management company now holds a total of 470,000 shares of Nektar Therapeutics which is valued at $8,239,100 after selling 55,000 shares in Nektar Therapeutics , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Nektar Therapeutics makes up approximately 1.32% of Rhenman Partners Asset Management Ab’s portfolio.

Other Hedge Funds, Including , California State Teachers Retirement System reduced its stake in NKTR by selling 7,484 shares or 2.68% in the most recent quarter. The Hedge Fund company now holds 271,942 shares of NKTR which is valued at $4,767,143. Nektar Therapeutics makes up approx 0.01% of California State Teachers Retirement System’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.Genesee Valley Trust Co boosted its stake in NKTR in the latest quarter, The investment management firm added 650 additional shares and now holds a total of 12,135 shares of Nektar Therapeutics which is valued at $184,088. Nektar Therapeutics makes up approx 0.12% of Genesee Valley Trust Co’s portfolio.Louisiana State Employees Retirement System boosted its stake in NKTR in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 60,300 shares of Nektar Therapeutics which is valued at $914,751. Nektar Therapeutics makes up approx 0.05% of Louisiana State Employees Retirement System’s portfolio.Franklin Street Advisors Inc Nc reduced its stake in NKTR by selling 7,800 shares or 6.88% in the most recent quarter. The Hedge Fund company now holds 105,500 shares of NKTR which is valued at $1,663,735. Nektar Therapeutics makes up approx 0.31% of Franklin Street Advisors Inc Nc’s portfolio.

Nektar Therapeutics closed down -0.07 points or -0.40% at $17.46 with 15,48,127 shares getting traded on Thursday. Post opening the session at $17.3, the shares hit an intraday low of $17.03 and an intraday high of $18.12 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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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