Patient Square Makes a Big Bet on Nektar Pharmaceuticals (NKTR) Purchasing 210,000 Shares
Key Points
Patient Square Capital LP initiated a new position in Nektar Therapeutics, buying 210,000 shares—an estimated $11.96 million trade based on quarterly average pricing
The quarter-end value of the new stake was $15.11 million, reflecting the valuation shift including price movement
Post-trade, the fund held 210,000 shares valued at $15.11 million, or 2.68% of reportable AUM
This marks Nektar Therapeutics as a new holding, but it falls outside the fund’s top five positions by size
- 10 stocks we like better than Nektar Therapeutics ›
What happened
According to a Securities and Exchange Commission (SEC) filing dated May 15, 2026, Patient Square Capital LP disclosed the purchase of 210,000 shares of Nektar Therapeutics (NASDAQ:NKTR). The estimated value of the trade was $11.96 million based on the average closing price for the first quarter of 2026. The quarter-end value of this new position stood at $15.11 million, reflecting the valuation shift, including price movement.
What else to know
- This was a new position for Patient Square Capital LP and represented 2.68% of its reportable AUM at quarter-end
- Top five holdings after the filing:
- NASDAQ: ROIV: $226,199,502 (40.1% of AUM)
- NASDAQ: ARGX: $26,813,320 (4.8% of AUM)
- NASDAQ: INSM: $25,754,400 (4.6% of AUM)
- NASDAQ: ONC: $23,918,558 (4.2% of AUM)
- NASDAQ: COGT: $22,940,040 (4.1% of AUM)
- As of May 14, 2026, shares of Nektar Therapeutics were priced at $74.33, up 669.46% over the prior year, outperforming the S&P 500 by 642.16 percentage points
Company overview
| Metric | Value |
|---|---|
| Price (as of market close 2026-05-15) | $70.62 |
| Market Capitalization | $1.22 billion |
| Revenue (TTM) | $55.63 million |
| Net Income (TTM) | ($158.10 million) |
Company snapshot
- Nektar Therapeutics develops biopharmaceutical products targeting oncology, immunology, and inflammatory diseases, with lead candidates including Bempegaldesleukin and NKTR-358 in clinical trials for cancer and autoimmune disorders.
- Its primary partners are global pharmaceutical firms seeking innovative therapies for unmet medical needs.
- The company is headquartered in San Francisco, California, and leverages expertise in cytokine engineering and immunomodulation.
Nektar Therapeutics is a clinical-stage biotechnology company focused on advancing novel immunotherapies for cancer and autoimmune conditions. Leveraging a robust pipeline and strategic collaborations with leading pharmaceutical companies, Nektar aims to address significant gaps in current treatment options. The company's expertise in cytokine engineering and immunomodulation positions it as a key innovator within the biotechnology sector.
What this transaction means for investors
If Patient Square acquired its new Nektar Therapeutics Position in the first half of the first quarter, it was a very lucrative bet for the firm. Shares of the biopharmaceutical company more than doubled in February after the company reported successful results from the phase 2b Rezolve-AD clinical trial, which treated eczema patients with rezpegaldesleukin.
Rezpegaldesleukin is an experimental treatment that targets interleukin-2 receptors. It boosts production of regulatory T cells that appear to prevent patients’ immune systems from mistakenly attacking healthy skin tissue.
The Rezolve-AD trial enrolled 393 patients. Folks randomized to receive rezpegaldesleukin once every four weeks and once every 12 weeks showed sustained disease control responses. Moreover, many patients acheived 75% and 90% skin clearance rates at the 52-week observation point, which supports quarterly dosing over time.
Nektar Therapeutics expects to advance rezpegaldesleukin into phase 3 studies soon. If all goes well, a biologic licensing application could be ready for the Food and Drug Administration to review in 2029.
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Cory Renauer has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Argenx Se and BeOne Medicines Ag. The Motley Fool recommends Roivant Sciences. The Motley Fool has a disclosure policy.
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