What is the 13F Pro Quality Score for NKTR?

13F Pro ranks NEKTAR THERAPEUTICS (NKTR) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View NKTR's current score at https://13fpro.ai/research/NKTR (free sign-up required for the full ranking).

Which hedge funds own the most NKTR stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of NKTR include FMR, BVF /IL, Two Seas Capital. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/research/NKTR as soon as new 13F filings post.

Where does 13F Pro source NKTR data?

All NEKTAR THERAPEUTICS fundamentals and ownership data come directly from SEC EDGAR. NEKTAR THERAPEUTICS files with the SEC under CIK 906709. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is NKTR in?

NEKTAR THERAPEUTICS (NKTR) is classified in the Healthcare sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/healthcare.

How often is NKTR research updated on 13F Pro?

NKTR's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

NEKTAR THERAPEUTICS(NKTR)Stock Analysis

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13F Pro Quality Score

10.2/100

Rank #2,812 of 2,879 stocks

View Healthcare peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.

Revenue Growth

4.2/100

Profitability

3.9/100

Balance Sheet

2.1/100

Earnings Quality

30.0/100

Free Cash Flow

3.5/100

Institutional Flow

86.5/100

Revenue Scale

10.0/100

Dilution Risk

8.2/100

NKTR Stock Analysis & AI Quality Score

AI stock analysis and institutional research for NEKTAR THERAPEUTICS (NKTR), a Healthcare sector company. 13F Pro's AI-powered ranking engine scores NKTR at 10.2/100 on a 32-signal composite quality model, placing it at rank #2,812 of 2,879 stocks — the bottom half of the AI-ranked universe. NKTR scores in the top quartile across institutional flow (86.5). Areas of concern include balance sheet strength (2.1) and free cash flow (3.5), which score below median versus the broader universe. Shareholder dilution risk is elevated at 8.2/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q1 2026), NEKTAR THERAPEUTICS reports quarterly revenue of $10.9M, net income of $-44.9M, free cash flow of $-44.3M. Top institutional holders of NKTR by reported 13-F value include FMR, BVF /IL, Two Seas Capital, based on the most recent SEC filings. NKTR trades on the Nasdaq exchange and files with the SEC under CIK 906709. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate NKTR daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for NEKTAR THERAPEUTICS directly from SEC EDGAR. NEKTAR THERAPEUTICS's 13F Pro composite quality score has ranged between 8 and 38 since 2021, currently 10.2 — a declining long-term trajectory across 56 quarterly and live scoring snapshots.

✦

Fun facts about NEKTAR THERAPEUTICS

Quirks, history, and lore behind NKTR — the kind of stuff that makes a stock memorable.

1
The Basics
U.S. biopharmaceutical company · small-cap · listed on Nasdaq · headquartered in San Francisco, California.
2
The Numbers
Revenue in the range of a few hundred million dollars, heavily reliant on royalties and collaboration payments rather than direct drug sales — a business model as unusual as its chemistry.
3
The History
Founded in the early 1990s, it pioneered a platform technology called PEGylation — chemically attaching polyethylene glycol to drug molecules to make them last longer in the body.
4
The Secret
It doesn't just sell drugs — it licenses its polymer chemistry platform to other pharma giants, collecting royalties every time a partner's drug gets sold using its technology.
5
The Lore
Its high-profile partnership with Bristol-Myers Squibb on an immuno-oncology drug candidate once sent its stock soaring, then crashing, in one of biotech's most-watched clinical trial roller coasters.
6
The Giveaway
The NKTR ticker belongs to a San Francisco biotech whose entire identity is built around polymer-drug conjugates — making other people's molecules better, one PEG chain at a time.

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Revenue

Q1 2026

$10.9M

Net Income

Q1 2026

$-44.9M

Free Cash Flow

Q1 2026

$-44.3M

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

-43.9% YoY

$55.2MFY 2025

FY22 $92.1MFY23 $90.1MFY24 $98.4MFY25 $55.2M

Net Income

-37.9% YoY

$-164.1MFY 2025

FY22 $-368.2MFY23 $-276.0MFY24 $-119.0MFY25 $-164.1M

Operating Income

-33.2% YoY

$-140.1MFY 2025

FY22 $-376.2MFY23 $-263.7MFY24 $-105.2MFY25 $-140.1M

EPS (Diluted)

-12.1% YoY

$-9.73FY 2025

FY22 $-1.97FY23 $-1.45FY24 $-8.68FY25 $-9.73

Total Assets

-7.7% YoY

$280.4MFY 2025

FY22 $710.6MFY23 $398.0MFY24 $303.9MFY25 $280.4M

Op. Cash Flow

-18.7% YoY

$-208.5MFY 2025

FY22 $-304.0MFY23 $-192.6MFY24 $-175.7MFY25 $-208.5M

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$55.2M -43.9%	$98.4M +9.2%	$90.1M -2.1%	$92.1M -9.7%	$101.9M -33.4%	$152.9M
Net Income	$-164.1M -37.9%	$-119.0M +56.9%	$-276.0M +25.0%	$-368.2M +29.7%	$-523.8M -17.9%	$-444.4M
Operating Income	$-140.1M -33.2%	$-105.2M +60.1%	$-263.7M +29.9%	$-376.2M +15.7%	$-446.1M -4.9%	$-425.1M
EPS (Diluted)	$-9.73 -12.1%	$-8.68 -498.6%	$-1.45 +26.4%	$-1.97 +31.1%	$-2.86 -14.9%	$-2.49
Total Assets	$280.4M -7.7%	$303.9M -23.7%	$398.0M -44.0%	$710.6M -36.4%	$1.12B -27.4%	$1.54B
Operating Cash Flow	$-208.5M -18.7%	$-175.7M +8.8%	$-192.6M +36.6%	$-304.0M +26.3%	$-412.7M -31.7%	$-313.3M

AI Insight: NKTR Financial Trends

Equity surged to $576M in Q1 2026 — likely a capital raise — but operating cash burn deepened to -$65M in Q4 2025 and revenue remains structurally weak below $25M.

• Revenue collapsed from $29M in Q4 2024 to $11M in Q1 2026, with no recovery in sight across recent quarters.

• Operating losses persist every quarter except Q4 2024's $14M gain; Q1 2026 op loss widened to -$39M.

• Equity swung from -$24M in Q2 2025 to $576M in Q1 2026, signaling a significant capital infusion.

⚠ Operating cash burn hit -$65M in Q4 2025 — the worst in the observed period — suggesting accelerating cash consumption.

⚠ Whether the Q1 2026 equity jump ($576M) reflects dilutive issuance and how long it extends the cash runway.

⚠ Revenue has never exceeded $29M across eight quarters; absence of a growth catalyst remains a key structural risk.

AI Insight: NKTR Ratio Trends

A one-time Q4 2024 gain distorts the trend; underlying operations remain deeply loss-making with ROA deteriorating to -80% by mid-2025.

• Q4 2024 showed an anomalous 49.2% operating margin and 94.5% ROIC — a clear one-off event, not reflective of core operations.

• Operating margin collapsed to -126.9% and NPM to -165.5% in Q4 2025, reversing any Q4 2024 improvement entirely.

• ROA deteriorated from -48.1% in Q3 2024 to -80.2% in Q2 2025, indicating worsening asset efficiency over the period.

⚠ TTM ROA of -20.7% appears better than recent quarters — verify whether Q4 2024 one-off is still flattering the trailing figure.

⚠ ROE swung from +47.8% in Q4 2024 to -160.7% in Q3 2025 — extreme volatility signals reliance on non-recurring items.

⚠ D/E data is absent across all periods; debt structure and liquidity runway remain unquantifiable from this dataset.

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Available Research

13F Pro tracks comprehensive data for NEKTAR THERAPEUTICS including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of NKTR

FMR LLC
$309.6M4,303,188 sh
BVF INC/IL
$184.2M2,559,595 sh
Two Seas Capital LP
$141.0M1,959,178 sh
VANGUARD CAPITAL MANAGEMENT LLC
$86.1M1,197,055 sh
TWO SIGMA INVESTMENTS, LP
$67.0M930,741 sh
Prosight Management, LP
$52.9M735,000 sh
BlackRock, Inc.
$49.8M692,650 sh
MORGAN STANLEY
$47.4M659,387 sh
ARMISTICE CAPITAL, LLC
$41.6M578,000 sh
Invesco Ltd.
$40.8M567,458 sh

Fund	Value	Shares
FMR LLC	$309.6M	4,303,188
BVF INC/IL	$184.2M	2,559,595
Two Seas Capital LP	$141.0M	1,959,178
VANGUARD CAPITAL MANAGEMENT LLC	$86.1M	1,197,055
TWO SIGMA INVESTMENTS, LP	$67.0M	930,741
Prosight Management, LP	$52.9M	735,000
BlackRock, Inc.	$49.8M	692,650
MORGAN STANLEY	$47.4M	659,387
ARMISTICE CAPITAL, LLC	$41.6M	578,000
Invesco Ltd.	$40.8M	567,458

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Is NKTR a good stock to buy?

13F Pro's AI-powered analysis of NEKTAR THERAPEUTICS (NKTR) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Healthcare sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for NKTR are available on the NKTR stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own NKTR?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling NKTR. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of NEKTAR THERAPEUTICS's investment landscape.