Vault-13

NEKTAR THERAPEUTICS NKTR

COM NEW · Common Stock · CUSIP 640268306 · ISIN US6402683063

American healthcare company

104 institutional holders
7,657,9917.7m shares reported held*
40.3% of all shares outstanding*
$197.9mreported value*

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($116.6k this quarter). Holder counts are more reliable. Shares outstanding: 19.0m as of 2025-07-31, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $25.84. Options: 12 managers hold calls ($32.1m notional), 8 hold puts ($35.6m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

050100150Q3 22: 1Q4 22: 1Q1 23: 1Q2 23: 0Q3 23: 0Q4 23: 0Q1 24: 0Q2 24: 0Q3 24: 0Q4 24: 0Q1 25: 0Q2 25: 104104Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 20221
Q4 20221
Q1 20231
Q2 20230
Q3 20230
Q4 20230
Q1 20240
Q2 20240
Q3 20240
Q4 20240
Q1 20250
Q2 2025104

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
101Q4 22: 0 bought or addedQ4 22: 0 cut or sold outQ4 22Q1 23: 0 bought or addedQ1 23: 0 cut or sold outQ1 23Q2 23: 0 bought or addedQ2 23: 1 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 202200
Q1 202300
Q2 202301

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$10m$20m$30m$40mQ3 24 calls: $0Q3 24 puts: $0Q3 24P/C —Q4 24 calls: $0Q4 24 puts: $0Q4 24P/C —Q1 25 calls: $0Q1 25 puts: $0Q1 25P/C —Q2 25 calls: $32.1mQ2 25 puts: $35.6mQ2 25P/C 1.11
Numbers
QuarterCallsPutsP/C
Q3 2024$0$0—
Q4 2024$0$0—
Q1 2025$0$0—
Q2 2025$32.1m$35.6m1.11

Biggest buyers

VANGUARD GROUP INC New +729,492+729.5k
Nantahala Capital Management, LLC New +709,761+709.8k
MILLENNIUM MANAGEMENT LLC New +649,033+649.0k
AQR CAPITAL MANAGEMENT LLC New +427,867+427.9k
ACADIAN ASSET MANAGEMENT LLC New +420,958+421.0k
BlackRock, Inc. New +415,226+415.2k
Balyasny Asset Management L.P. New +386,290+386.3k
PRIMECAP MANAGEMENT CO/CA/ New +299,718+299.7k
TCG Crossover Management, LLC New +266,666+266.7k
RENAISSANCE TECHNOLOGIES LLC New +247,060+247.1k

Biggest sellers

None

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP New $11.6m450.2k shares
CITADEL ADVISORS LLC New $5.4m210.3k shares
GROUP ONE TRADING LLC New $4.5m175.2k shares
SIMPLEX TRADING, LLC New $3.5m133.6k shares
MILLENNIUM MANAGEMENT LLC New $2.0m79.0k shares
Exome Asset Management LLC New $1.9m75.0k shares
Velan Capital Investment Management LP New $1.3m50.0k shares
WOLVERINE TRADING, LLC New $1.2m45.4k shares
BOOTHBAY FUND MANAGEMENT, LLC New $516.8k20.0k shares
DIADEMA PARTNERS LP New $85.9k47.5k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP New $16.5m640.3k shares
CITADEL ADVISORS LLC New $7.4m285.6k shares
SIMPLEX TRADING, LLC New $5.4m207.7k shares
GROUP ONE TRADING LLC New $3.6m137.9k shares
WOLVERINE TRADING, LLC New $1.3m50.0k shares
ADAR1 Capital Management, LLC New $904.4k35.0k shares
BOOTHBAY FUND MANAGEMENT, LLC New $516.8k20.0k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. New $00 shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
FMR LLC 13G · institution +3.9 pts · filed 2026-05-06 15.0% +3.9 pts 4.3m≈ $300.4m 2026-05-06
Two Seas Capital LP 13G · institution +0.7 pts · filed 2026-09-28 9.8% +0.7 pts 3.3m≈ $233.6m 2026-09-28
BlackRock, Inc. 13G · institution +6.2 pts · filed 2026-07-29 7.8% +6.2 pts 2.6m≈ $184.6m 2026-07-29
BIOTECHNOLOGY VALUE FUND L P 13G · passive investor -2.7 pts · filed 2026-08-14 7.1% -2.7 pts 2.4m≈ $166.9m 2026-08-14
VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-07-31 5.2% new 1.7m≈ $122.0m 2026-07-31

Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD CAPITAL MANAGEMENT LLC), SUSQUEHANNA SECURITIES, LLC (4.0%, 2026-02-13), Nantahala Capital Management, LLC (2.2%, 2025-11-14)

Insider purchases and sales in Q2 2025

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

Officers and directors buying vs selling

Number of people, by quarter (10% owners not included)

BuyingSelling
505Q3 23: 0 buyingQ3 23: 5 sellingQ4 23: 0 buyingQ4 23: 3 sellingQ4 23Q1 24: 0 buyingQ1 24: 3 sellingQ2 24: 0 buyingQ2 24: 4 sellingQ2 24Q3 24: 0 buyingQ3 24: 3 sellingQ4 24: 0 buyingQ4 24: 3 sellingQ4 24Q1 25: 0 buyingQ1 25: 3 sellingQ2 25: 0 buyingQ2 25: 3 sellingQ2 25
Numbers
QuarterBuyingBoughtSellingSoldSold under a plan
Q3 20230—5$31.8k—
Q4 20230—3$18.0k—
Q1 20240—3$24.9k—
Q2 20240—4$76.4k$23.4k
Q3 20240—3$35.1k—
Q4 20240—3——
Q1 20250—3——
Q2 20250—3——
DateInsiderTradeSharesPrice ValueTheir holding
2025-05-19 ROBIN HOWARD W President & CEO, director Sold 23,208 — —23.2k shares -2%
2025-05-19 Wilson Mark Andrew Chief Legal Officer Sold 9,996 — —10.0k shares -3%
2025-05-19 Zalevsky Jonathan Chief R&D Officer Sold 10,712 — —10.7k shares -3%

Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 729,492729.5k $18.9m $18.9m 0.00% New
2 Nantahala Capital Management, LLC 1.30% of their portfolio NEW CANAAN, CT 709,761709.8k $18.3m $18.3m 1.30% New
3 MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio NEW YORK, NY 649,033649.0k $16.8m $16.8m 0.02% New
4 AQR CAPITAL MANAGEMENT LLC 0.01% of their portfolio Greenwich, CT 427,867427.9k $11.1m $11.1m 0.01% New
5 ACADIAN ASSET MANAGEMENT LLC 0.02% of their portfolio Boston, MA 420,958421.0k $10.9m $10.9m 0.02% New
6 BlackRock, Inc. 0.00% of their portfolio New York, NY 415,226415.2k $10.7m $10.7m 0.00% New
7 Balyasny Asset Management L.P. 0.02% of their portfolio Chicago, IL 386,290386.3k $10.0m $10.0m 0.02% New
8 PRIMECAP MANAGEMENT CO/CA/ 0.01% of their portfolio PASADENA, CA 299,718299.7k $7.7m $7.7m 0.01% New
9 TCG Crossover Management, LLC 0.79% of their portfolio PALO ALTO, CA 266,666266.7k $6.9m $6.9m 0.79% New
10 RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio NEW YORK, NY 247,060247.1k $6.4m $6.4m 0.01% New
11 Woodline Partners LP 0.03% of their portfolio San Francisco, CA 246,145246.1k $6.4m $6.4m 0.03% New
12 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 221,891221.9k $5.7m $5.7m 0.01% New
13 UBS Group AG 0.00% of their portfolio ZURICH, V8 201,371201.4k $5.2m $5.2m 0.00% New
14 JACOBS LEVY EQUITY MANAGEMENT, INC 0.02% of their portfolio FLORHAM PARK, NJ 148,240148.2k $3.8m $3.8m 0.02% New
15 22NW, LP 2.38% of their portfolio SEATTLE, WA 146,115146.1k $3.8m $3.8m 2.38% New
16 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 132,373132.4k $3.4m $3.4m 0.00% New
17 Jain Global LLC 0.05% of their portfolio NEW YORK, NY 128,818128.8k $3.3m $3.3m 0.05% New
18 Boxer Capital Management, LLC 1.63% of their portfolio San Diego, CA 125,000125.0k $3.2m $3.2m 1.63% New
19 ARMISTICE CAPITAL, LLC 0.12% of their portfolio NEW YORK, NY 124,000124.0k $3.2m $3.2m 0.12% New
20 Eversept Partners, LP 0.30% of their portfolio NEW YORK, NY 115,000115.0k $3.0m $3.0m 0.30% New
21 Schonfeld Strategic Advisors LLC 0.02% of their portfolio NEW YORK, NY 101,505101.5k $2.6m $2.6m 0.02% New
22 GROUP ONE TRADING LLC 0.08% of their portfolio CHICAGO, IL 93,18193.2k $2.4m $2.4m 0.08% New
23 TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio NEW YORK, NY 79,39579.4k $2.1m $2.1m 0.00% New
24 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 72,13972.1k $1.9m $1.9m 0.00% New
25 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 67,56167.6k $1.7m $1.7m 0.00% New
26 BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.04% of their portfolio HOUSTON, TX 66,14066.1k $1.7m $1.7m 0.04% New
27 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 65,92965.9k $1.7m $1.7m 0.00% New
28 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 62,45062.5k $1.6m $1.6m 0.00% New
29 FRED ALGER MANAGEMENT, LLC 0.01% of their portfolio NEW YORK, NY 52,71152.7k $1.4m $1.4m 0.01% New
30 Simplify Asset Management Inc. 0.08% of their portfolio Las Vegas, NV 51,99852.0k $1.3m $1.3m 0.08% New
31 Stonepine Capital Management, LLC 1.28% of their portfolio Bend, OR 50,20050.2k $1.3m $1.3m 1.28% New
32 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 50,10550.1k $1.3m $1.3m 0.00% New
33 SIMPLEX TRADING, LLC 0.03% of their portfolio CHICAGO, IL 46,95347.0k $1.2m $1.2m 0.03% New
34 Moody Aldrich Partners LLC 0.23% of their portfolio MARBLEHEAD, MA 45,41245.4k $1.2m $1.2m 0.23% New
35 CM Management, LLC 1.06% of their portfolio GULF BREEZE, FL 45,00045.0k $1.2m $1.2m 1.06% New
36 Monaco Asset Management SAM 0.43% of their portfolio Monaco, O9 43,96644.0k $1.1m $1.1m 0.43% New
37 IEQ CAPITAL, LLC 0.01% of their portfolio Foster City, CA 38,25538.3k $988.5k $988.5k 0.01% New
38 Deuterium Capital Management, LLC 1.81% of their portfolio Clearwater, FL 37,34937.3k $965.1k $965.1k 1.81% New
39 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 35,55435.6k $920.0k $920.0k 0.00% New
40 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 32,03232.0k $827.7k $827.7k 0.00% New
41 GILDER GAGNON HOWE & CO LLC 0.01% of their portfolio New York, NY 28,90228.9k $746.8k $746.8k 0.01% New
42 Informed Momentum Co LLC 0.09% of their portfolio SOLANA BEACH, CA 24,15624.2k $624.2k $624.2k 0.09% New
43 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 24,14424.1k $623.9k $623.9k 0.00% New
44 Palumbo Wealth Management LLC 0.19% of their portfolio GREAT NECK, NY 23,77223.8k $614.3k $614.3k 0.19% New
45 Connor, Clark & Lunn Investment Management Ltd. 0.00% of their portfolio VANCOUVER, A1 21,33521.3k $551.3k $551.3k 0.00% New
46 BOOTHBAY FUND MANAGEMENT, LLC 0.02% of their portfolio NEW YORK, NY 20,96221.0k $541.7k $541.7k 0.02% New
47 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 17,79817.8k $460.0k $460.0k 0.00% New
48 ADAR1 Capital Management, LLC 0.07% of their portfolio AUSTIN, TX 15,79615.8k $408.2k $408.2k 0.07% New
49 FMR LLC 0.00% of their portfolio BOSTON, MA 15,27615.3k $394.7k $394.7k 0.00% New
50 WOLVERINE TRADING, LLC 0.01% of their portfolio CHICAGO, IL 15,07215.1k $388.3k $388.3k 0.01% New
51 Gainplan LLC 0.18% of their portfolio BLOOMFIELD HILLS, MI 15,00015.0k $387.6k $387.6k 0.18% New
52 DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio AUSTIN, TX 14,38014.4k $371.5k $371.5k 0.00% New
53 MARSHALL WACE, LLP 0.00% of their portfolio LONDON, X0 14,20014.2k $366.9k $366.9k 0.00% New
54 VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio San Antonio, TX 14,13714.1k $365.3k $365.3k 0.00% New
55 SummitTX Capital, L.P. 0.01% of their portfolio FORT WORTH, TX 12,42612.4k $321.1k $321.1k 0.01% New
56 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 12,08212.1k $312.0k $312.0k 0.00% New
57 CWM, LLC 0.00% of their portfolio OMAHA, NE 11,95312.0k $309.0k $309.0k 0.00% New
58 DAFNA Capital Management LLC 0.07% of their portfolio LOS ANGELES, CA 10,00010.0k $258.4k $258.4k 0.07% New
59 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 9,0099.0k $232.8k $232.8k 0.00% New
60 Quantessence Capital LLC 0.07% of their portfolio NEW YORK, NY 8,6458.6k $223.4k $223.4k 0.07% New
61 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 8,4898.5k $210.2k $210.2k 0.00% New
62 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 6,9376.9k $179.2k $179.2k 0.00% New
63 Tower Research Capital LLC (TRC) 0.00% of their portfolio NEW YORK, NY 5,4245.4k $140.2k $140.2k 0.00% New
64 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 5,3885.4k $139.2k $139.2k 0.00% New
65 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 5,0385.0k $130.2k $130.2k 0.00% New
66 Allostery Investments LP 1.32% of their portfolio Stamford, CT 4,0004.0k $103.4k $103.4k 1.32% New
67 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 3,7013.7k $95.6k $95.6k 0.00% New
68 Allworth Financial LP 0.00% of their portfolio FOLSOM, CA 3,3663.4k $87.0k $87.0k 0.00% New
69 Caption Management, LLC 0.01% of their portfolio OKLAHOMA CITY, OK 2,7762.8k $71.7k $71.7k 0.01% New
70 Headlands Technologies LLC 0.01% of their portfolio CHICAGO, IL 2,5222.5k $65.2k $65.2k 0.01% New
71 PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.00% of their portfolio COLUMBUS, OH 2,4292.4k $62.8k $62.8k 0.00% New
72 FNY Investment Advisers, LLC 0.02% of their portfolio NEW YORK, NY 1,5251.5k $39.0k $39.0k 0.02% New
73 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 517517 $13.4k $13.4k 0.00% New
74 SILVERARC CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 346346 $8.9k $8.9k 0.00% New
75 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 313313 $8.1k $8.1k 0.00% New
76 IFP Advisors, Inc 0.00% of their portfolio TAMPA, FL 294294 $7.6k $7.6k 0.00% New
77 SIGNATUREFD, LLC 0.00% of their portfolio ATLANTA, GA 260260 $6.7k $6.7k 0.00% New
78 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 224224 $5.8k $5.8k 0.00% New
79 Activest Wealth Management 0.00% of their portfolio AVENTURA, FL 200200 $5.2k $5.2k 0.00% New
80 SBI Securities Co., Ltd. 0.00% of their portfolio TOKYO, M0 160160 $4.1k $4.1k 0.00% New
81 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 120120 $3.1k $3.1k 0.00% New
82 True Wealth Design, LLC 0.00% of their portfolio AKRON, OH 106106 $2.7k $2.7k 0.00% New
83 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 9393 $2.4k $2.4k 0.00% New
84 BESSEMER GROUP INC 0.00% of their portfolio WOODBRIDGE, NJ 8585 $2.0k $2.0k 0.00% New
85 BROWN BROTHERS HARRIMAN & CO 0.00% of their portfolio NEW YORK, NY 6666 $1.7k $1.7k 0.00% New
86 ATLAS CAPITAL ADVISORS INC. 0.00% of their portfolio JACKSON, WY 4040 $1.0k $1.0k 0.00% New
87 Boreal Capital Management LLC 0.00% of their portfolio MIAMI, FL 3636 $930 $930 0.00% First filing
88 NISA INVESTMENT ADVISORS, LLC 0.00% of their portfolio ST. LOUIS, MO 3333 $853 $853 0.00% New
89 Global Retirement Partners, LLC 0.00% of their portfolio San Rafael, CA 2727 $698 $698 0.00% First filing
90 Kimelman & Baird, LLC 0.00% of their portfolio New York, NY 1313 $336 $336 0.00% New
91 AMERIFLEX GROUP, INC. 0.00% of their portfolio LAS VEGAS, NV 1313 $386 $386 0.00% New
92 Medallion Wealth Advisors, LLC 0.00% of their portfolio FARMINGTON, CT 1313 $336 $336 0.00% New
93 HARBOUR INVESTMENTS, INC. 0.00% of their portfolio MADISON, WI 1010 $258 $258 0.00% New
94 PRINCIPAL SECURITIES, INC. 0.00% of their portfolio DES MOINES, IA 88 $207 $207 0.00% New
95 United Community Bank 0.00% of their portfolio GREENVILLE, SC 77 $181 $181 0.00% New
96 Arlington Trust Co LLC 0.00% of their portfolio BIRMINGHAM, AL 66 $155 $155 0.00% New
97 Clearstead Advisors, LLC 0.00% of their portfolio CLEVELAND, OH 55 $130 $130 0.00% New
98 Salomon & Ludwin, LLC 0.00% of their portfolio RICHMOND, VA 33 $77 $77 0.00% New
99 DANSKE BANK A/S 0.00% of their portfolio COPENHAGEN V, G7 22 $52 $52 0.00% New
100 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 22 $52 $52 0.00% New