NEKTAR THERAPEUTICS NKTR
COM NEW · Common Stock · CUSIP 640268306 · ISIN US6402683063
American healthcare company
- SectorHealth care
- IndustryPharmaceutical Preparations
- HeadquartersSan Francisco, CA
- Founded1990
- Websitenektar.com
- FilingsSEC EDGAR
* 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 ($1.2m this quarter). Holder counts are more reliable. Shares outstanding: 34.1m as of 2026-08-07, 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 ≈ $69.81. Options: 12 managers hold calls ($116.6m notional), 11 hold puts ($70.8m).
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 1 |
| Q4 2022 | 1 |
| Q1 2023 | 1 |
| Q2 2023 | 0 |
| Q3 2023 | 0 |
| Q4 2023 | 0 |
| Q1 2024 | 0 |
| Q2 2024 | 0 |
| Q3 2024 | 0 |
| Q4 2024 | 0 |
| Q1 2025 | 0 |
| Q2 2025 | 104 |
| Q3 2025 | 146 |
| Q4 2025 | 174 |
| Q1 2026 | 208 |
| Q2 2026 | 240 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 0 | 0 |
| Q1 2023 | 0 | 0 |
| Q2 2023 | 0 | 1 |
| Q3 2025 | 104 | 45 |
| Q4 2025 | 98 | 72 |
| Q1 2026 | 135 | 75 |
| Q2 2026 | 170 | 81 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $47.7m | $75.6m | 1.59 |
| Q4 2025 | $36.6m | $26.8m | 0.73 |
| Q1 2026 | $76.0m | $36.5m | 0.48 |
| Q2 2026 | $116.6m | $70.8m | 0.61 |
Biggest buyers
| BlackRock, Inc. | Added | +2.2m |
| Two Seas Capital LP | Added | +1.1m |
| FMR LLC | Added | +764.7k |
| Vestal Point Capital, LP | Added | +715.0k |
| STATE STREET CORP | Added | +665.0k |
| GEODE CAPITAL MANAGEMENT, LLC | Added | +534.5k |
| GILDER GAGNON HOWE & CO LLC | Added | +329.1k |
| Deep Track Capital, LP | New | +300.0k |
| VANGUARD CAPITAL MANAGEMENT LLC | Added | +299.8k |
| MORGAN STANLEY | Added | +277.2k |
Biggest sellers
| Invesco Ltd. | Reduced | -487.6k |
| CITADEL ADVISORS LLC | Reduced | -353.8k |
| Qube Research & Technologies Ltd | Reduced | -260.2k |
| JPMORGAN CHASE & CO | Reduced | -218.0k |
| Patient Square Capital LP | Sold out | -210.0k |
| BVF INC/IL | Reduced | -168.5k |
| GREAT POINT PARTNERS LLC | Reduced | -141.5k |
| MARSHALL WACE, LLP | Reduced | -137.3k |
| Squadron Capital Management LLC | Sold out | -125.0k |
| JANE STREET GROUP, LLC | Reduced | -104.3k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $57.5m823.7k shares |
| Caption Management, LLC | Added | $11.9m171.1k shares |
| MILLENNIUM MANAGEMENT LLC | New | $11.9m170.0k shares |
| CITADEL ADVISORS LLC | Added | $11.4m163.8k shares |
| IMC-Chicago, LLC | Added | $9.6m137.8k shares |
| GROUP ONE TRADING LLC | Added | $6.0m86.4k shares |
| TUDOR INVESTMENT CORP ET AL | Added | $2.3m33.6k shares |
| K2 PRINCIPAL FUND, L.P. | New | $1.7m25.0k shares |
| JANE STREET GROUP, LLC | Reduced | $1.6m22.5k shares |
| SIMPLEX TRADING, LLC | Reduced | $1.5m21.7k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $27.5m394.5k shares |
| CITADEL ADVISORS LLC | Added | $12.3m175.5k shares |
| LMR Partners LLP | New | $9.1m130.0k shares |
| GROUP ONE TRADING LLC | Added | $5.8m83.3k shares |
| IMC-Chicago, LLC | Added | $4.4m63.7k shares |
| SIMPLEX TRADING, LLC | Added | $4.3m62.1k shares |
| NOMURA HOLDINGS INC | New | $2.8m40.0k shares |
| Caption Management, LLC | Reduced | $1.8m26.1k shares |
| JANE STREET GROUP, LLC | Reduced | $1.6m23.4k shares |
| HRT FINANCIAL LP | Reduced | $914.0k13.1k 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.
| Holder | Stake |
|---|---|
| FMR LLC 13G · institution +3.9 pts · filed 2026-05-06 | 15.0% |
| Two Seas Capital LP 13G · institution +0.7 pts · filed 2026-09-28 | 9.8% |
| BlackRock, Inc. 13G · institution +6.2 pts · filed 2026-07-29 | 7.8% |
| BIOTECHNOLOGY VALUE FUND L P 13G · passive investor -2.7 pts · filed 2026-08-14 | 7.1% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-07-31 | 5.2% |
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 since 1 Apr 2026
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)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q4 2024 | 0 | — | 3 | — | — |
| Q1 2025 | 0 | — | 3 | — | — |
| Q2 2025 | 0 | — | 3 | — | — |
| Q3 2025 | 0 | — | 3 | $938.8k | $859.7k |
| Q4 2025 | 0 | — | 3 | $216.8k | — |
| Q1 2026 | 0 | — | 2 | $182.0k | $137.9k |
| Q2 2026 | 0 | — | 2 | $2.0m | $1.9m |
| Q3 2026 | 0 | — | 2 | $43.5k | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2026-08-18 | ROBIN HOWARD W President & CEO, director | Sold | $30.1k418 shares |
| 2026-08-18 | Zalevsky Jonathan Chief R&D Officer | Sold | $13.4k186 shares |
| 2026-06-30 | Zalevsky Jonathan Chief R&D Officer | Sold plan | $397.7k5.7k shares |
| 2026-06-17 | ROBIN HOWARD W President & CEO, director | Sold plan | $611.9k10.0k shares |
| 2026-06-16 | ROBIN HOWARD W President & CEO, director | Sold plan | $603.2k10.0k shares |
| 2026-06-15 | Zalevsky Jonathan Chief R&D Officer | Sold plan | $336.2k5.5k shares |
| 2026-05-19 | ROBIN HOWARD W President & CEO, director | Sold | $29.1k444 shares |
| 2026-05-19 | Zalevsky Jonathan Chief R&D Officer | Sold | $13.0k199 shares |
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 2026
| Manager | Shares | Change |
|---|---|---|
| FMR LLC 0.02% of their portfolio | 5.1m $353.8m | Added +764.7k |
| Two Seas Capital LP 8.24% of their portfolio | 3.1m $215.9m | Added +1.1m |
| BlackRock, Inc. 0.00% of their portfolio | 2.9m $205.4m | Added +2.2m |
| BVF INC/IL 4.27% of their portfolio | 2.4m $166.9m | Reduced -168.5k |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 1.5m $104.5m | Added +299.8k |
| TWO SIGMA INVESTMENTS, LP 0.06% of their portfolio | 1.2m $83.9m | Added +271.3k |
| Vestal Point Capital, LP 1.63% of their portfolio | 1.0m $69.8m | Added +715.0k |
| MORGAN STANLEY 0.00% of their portfolio | 936.6k $65.4m | Added +277.2k |
| STATE STREET CORP 0.00% of their portfolio | 909.7k $63.5m | Added +665.0k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 881.3k $61.5m | Added +534.5k |
| Prosight Management, LP 9.74% of their portfolio | 810.0k $56.5m | Added +75.0k |
| ARMISTICE CAPITAL, LLC 1.40% of their portfolio | 724.0k $50.5m | Added +146.0k |
| GILDER GAGNON HOWE & CO LLC 0.43% of their portfolio | 600.9k $41.9m | Added +329.1k |
| MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio | 478.1k $33.4m | Added +73.8k |
| BRAIDWELL LP 1.22% of their portfolio | 473.6k $33.1m | Added +250.9k |
| Sofinnova Investments, Inc. 1.76% of their portfolio | 471.8k $32.9m | Reduced -37.8k |
| Woodline Partners LP 0.10% of their portfolio | 470.9k $32.9m | Added +55.5k |
| ORBIMED ADVISORS LLC 0.62% of their portfolio | 465.3k $32.5m | Added +190.3k |
| UBS Group AG 0.00% of their portfolio | 428.4k $29.9m | Added +108.2k |
| EMERALD ADVISERS, LLC 0.64% of their portfolio | 390.2k $27.2m | Reduced -4.4k |
| LORD, ABBETT & CO. LLC 0.08% of their portfolio | 381.6k $26.6m | Reduced -23.5k |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.00% of their portfolio | 348.5k $24.3m | Added +276.0k |
| DAFNA Capital Management LLC 4.24% of their portfolio | 318.4k $22.2m | Added +153.2k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 308.5k $21.5m | Added +229.9k |
| Deep Track Capital, LP 0.31% of their portfolio | 300.0k $20.9m | New |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 285.0k $19.9m | Added +117.0k |
| 22NW, LP 18.75% of their portfolio | 281.1k $19.6m | Unchanged |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.02% of their portfolio | 279.0k $19.5m | Added +29.9k |
| PRIMECAP MANAGEMENT CO/CA/ 0.01% of their portfolio | 272.9k $19.0m | Reduced -6.3k |
| BARCLAYS PLC 0.01% of their portfolio | 262.4k $18.3m | Added +230.0k |
| Nearwater Capital Markets, Ltd 0.31% of their portfolio | 261.5k $18.3m | Unchanged |
| EMERALD MUTUAL FUND ADVISERS TRUST 0.63% of their portfolio | 255.6k $17.8m | Reduced -519 |
| ADAR1 Capital Management, LLC 0.80% of their portfolio | 244.2k $17.0m | Added +82.9k |
| Creek Drive Management Group LLC 10.48% of their portfolio | 243.0k $17.0m | Added +116.6k |
| SEVEN GRAND MANAGERS, LLC 0.67% of their portfolio | 240.0k $16.8m | Added +115.0k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 239.8k $16.7m | Added +148.2k |
| VANGUARD FIDUCIARY TRUST CO 0.00% of their portfolio | 239.6k $16.7m | Added +70.3k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 228.5k $16.0m | Added +101.5k |
| NORGES BANK 0.00% of their portfolio | 215.3k $15.0m | Not comparable |
| Bronte Capital Management Pty Ltd. 1.56% of their portfolio | 198.4k $13.9m | Added +178 |
| GREAT POINT PARTNERS LLC 2.88% of their portfolio | 175.0k $12.2m | Reduced -141.5k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 165.9k $11.6m | Added +29.2k |
| CITADEL ADVISORS LLC 0.01% of their portfolio | 159.7k $11.2m | Reduced -353.8k |
| Quinn Opportunity Partners LLC 0.50% of their portfolio | 153.1k $10.7m | Reduced -26.2k |
| Rhenman & Partners Asset Management AB 0.93% of their portfolio | 141.2k $9.9m | Added +82.2k |
| Qube Research & Technologies Ltd 0.01% of their portfolio | 130.5k $9.1m | Reduced -260.2k |
| Soleus Capital Management, L.P. 0.31% of their portfolio | 128.4k $9.0m | New |
| Nationale-Nederlanden Powszechne Towarzystwo Emerytalne S.A. 0.47% of their portfolio | 122.8k $8.6m | Added +441 |
| Stonepine Capital Management, LLC 6.41% of their portfolio | 120.7k $8.4m | Added +35.7k |
| SummitTX Capital, L.P. 0.21% of their portfolio | 112.9k $7.9m | Added +70.3k |
| Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio | 112.4k $7.8m | Added +56.3k |
| Jump Financial, LLC 0.07% of their portfolio | 107.4k $7.5m | Added +29.9k |
| APEIRON CAPITAL Ltd 4.77% of their portfolio | 106.4k $7.4m | New |
| CITIGROUP INC 0.00% of their portfolio | 102.8k $7.2m | Added +77.7k |
| ING GROEP NV 0.03% of their portfolio | 100.0k $7.0m | Unchanged |
| LMR Partners LLP 0.05% of their portfolio | 100.0k $7.0m | Added +51.7k |
| Nuveen, LLC 0.00% of their portfolio | 96.6k $6.7m | New |
| Bank of New York Mellon Corp 0.00% of their portfolio | 96.1k $6.7m | Added +89.5k |
| Susquehanna Portfolio Strategies, LLC 0.11% of their portfolio | 95.8k $6.7m | Added +61.2k |
| Militia Capital Management LLC 1.13% of their portfolio | 90.0k $6.3m | New |
| ACT CAPITAL MANAGEMENT, LLC 4.07% of their portfolio | 89.3k $6.2m | Added +18.4k |
| Russell Investments Group, Ltd. 0.01% of their portfolio | 89.1k $6.2m | Reduced -17.1k |
| Tetragon Partners GP Ltd 0.99% of their portfolio | 87.0k $6.1m | Reduced -16.0k |
| READYSTATE ASSET MANAGEMENT LP 0.24% of their portfolio | 85.1k $5.9m | New |
| Birchview Capital, LP 2.64% of their portfolio | 81.0k $5.7m | Added +50.0k |
| Invesco Ltd. 0.00% of their portfolio | 79.9k $5.6m | Reduced -487.6k |
| GROUP ONE TRADING LLC 0.14% of their portfolio | 70.4k $4.9m | Added +64.4k |
| ALGERT GLOBAL LLC 0.06% of their portfolio | 67.1k $4.7m | Added +32.3k |
| Moody Aldrich Partners LLC 0.80% of their portfolio | 64.1k $4.5m | Reduced -25.4k |
| Swiss National Bank 0.00% of their portfolio | 61.6k $4.3m | Added +13.7k |
| F/m Investments LLC 0.21% of their portfolio | 60.6k $4.2m | Reduced -519 |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 60.6k $4.2m | Added +1.6k |
| ExodusPoint Capital Management, LP 0.04% of their portfolio | 58.5k $4.1m | Added +38.0k |
| Trexquant Investment LP 0.02% of their portfolio | 56.7k $4.0m | Added +1.2k |
| K2 PRINCIPAL FUND, L.P. 0.32% of their portfolio | 50.5k $3.5m | New |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 47.1k $3.3m | Added +13.0k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 45.7k $3.2m | Added +34.4k |
| PUBLIC EMPLOYEES RETIREMENT ASSOCIATION OF COLORADO 0.01% of their portfolio | 44.6k $3.1m | New |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 43.1k $3.0m | Added +42.5k |
| LANDSCAPE CAPITAL MANAGEMENT, L.L.C. 0.19% of their portfolio | 41.9k $2.9m | Added +5.0k |
| Voleon Capital Management LP 0.05% of their portfolio | 40.8k $2.9m | Reduced -24.2k |
| Anson Funds Management LP 0.26% of their portfolio | 40.5k $2.8m | New |
| Atom Investors LP 0.25% of their portfolio | 40.5k $2.8m | Reduced -2.7k |
| Burkehill Global Management, LP 0.10% of their portfolio | 40.0k $2.8m | New |
| IRIDIAN ASSET MANAGEMENT LLC/CT 0.93% of their portfolio | 38.8k $2.7m | Added +7.5k |
| NOMURA HOLDINGS INC 0.01% of their portfolio | 38.7k $2.7m | New |
| Jefferies Financial Group Inc. 0.02% of their portfolio | 38.2k $2.7m | New |
| Connor, Clark & Lunn Investment Management Ltd. 0.00% of their portfolio | 36.9k $2.6m | Reduced -61.8k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 36.0k $2.6m | New |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 34.8k $2.4m | Added +6.1k |
| ALPS ADVISORS INC 0.01% of their portfolio | 34.2k $2.4m | New |
| FRED ALGER MANAGEMENT, LLC 0.01% of their portfolio | 33.7k $2.4m | Reduced -19.5k |
| Ghisallo Capital Management LLC 0.04% of their portfolio | 32.0k $2.2m | New |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 31.6k $2.2m | Added +31.3k |
| Blackstone Inc. 0.01% of their portfolio | 28.7k $2.0m | Not comparable |
| Erste Asset Management GmbH 0.01% of their portfolio | 28.0k $1.8m | Unchanged |
| KVP Capital Advisors, LP 1.38% of their portfolio | 26.9k $1.9m | Unchanged |
| Ishara Investments LP 1.37% of their portfolio | 26.6k $1.9m | New |
| WINTON GROUP Ltd 0.06% of their portfolio | 25.9k $1.8m | Added +9.0k |
| Legal & General Group Plc 0.00% of their portfolio | 23.8k $1.7m | Added +7.1k |