Perceptive Advisors LLC decreased its holdings in Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) by 2.4% in the 4th quarter, Holdings Channel reports. The firm owned 2,835,637 shares of the biotechnology company’s stock after selling 69,363 shares during the period. Momenta Pharmaceuticals accounts for about 1.1% of Perceptive Advisors LLC’s investment portfolio, making the stock its 20th biggest holding. Perceptive Advisors LLC’s holdings in Momenta Pharmaceuticals were worth $55,947,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the stock. Meeder Asset Management Inc. grew its stake in shares of Momenta Pharmaceuticals by 362.0% in the 4th quarter. Meeder Asset Management Inc. now owns 2,421 shares of the biotechnology company’s stock valued at $48,000 after purchasing an additional 1,897 shares during the last quarter. Smith Asset Management Group LP purchased a new stake in shares of Momenta Pharmaceuticals during the fourth quarter worth approximately $62,000. Nisa Investment Advisors LLC lifted its holdings in shares of Momenta Pharmaceuticals by 611.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,770 shares of the biotechnology company’s stock worth $94,000 after purchasing an additional 4,100 shares during the period. Teza Capital Management LLC acquired a new stake in shares of Momenta Pharmaceuticals during the fourth quarter worth $228,000. Finally, Victory Capital Management Inc. grew its position in Momenta Pharmaceuticals by 31.2% in the 4th quarter. Victory Capital Management Inc. now owns 15,148 shares of the biotechnology company’s stock valued at $299,000 after buying an additional 3,606 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.
In related news, insider Young Kwon sold 7,356 shares of Momenta Pharmaceuticals stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $28.96, for a total transaction of $213,029.76. Following the completion of the sale, the insider now owns 34,576 shares in the company, valued at approximately $1,001,320.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jo Ann Beltramello sold 122,589 shares of Momenta Pharmaceuticals stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $23.42, for a total value of $2,871,034.38. Following the sale, the insider now owns 46,078 shares of the company’s stock, valued at approximately $1,079,146.76. The disclosure for this sale can be found here. Insiders sold 271,235 shares of company stock worth $7,361,311 over the last quarter. Company insiders own 3.40% of the company’s stock.
Several equities analysts have issued reports on MNTA shares. Goldman Sachs Group began coverage on shares of Momenta Pharmaceuticals in a research note on Thursday, March 12th. They issued a “neutral” rating and a $29.00 price objective on the stock. Piper Sandler lifted their target price on shares of Momenta Pharmaceuticals from to in a report on Wednesday, February 5th. JPMorgan Chase & Co. upgraded shares of Momenta Pharmaceuticals from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $14.00 to $30.00 in a research note on Tuesday, January 14th. Stifel Nicolaus reissued a “buy” rating and set a $43.00 price target (up from $29.00) on shares of Momenta Pharmaceuticals in a report on Monday, January 27th. Finally, BidaskClub upgraded shares of Momenta Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $35.00.
MNTA stock traded up $1.23 during trading on Thursday, reaching $28.31. 1,049,888 shares of the company were exchanged, compared to its average volume of 1,332,732. The company has a market cap of $3.39 billion, a P/E ratio of -9.70 and a beta of 1.76. Momenta Pharmaceuticals, Inc. has a 52-week low of $9.51 and a 52-week high of $34.83. The stock’s 50 day moving average price is $29.54 and its 200 day moving average price is $20.80.
Momenta Pharmaceuticals (NASDAQ:MNTA) last posted its earnings results on Wednesday, February 26th. The biotechnology company reported ($0.85) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.57) by ($0.28). The firm had revenue of $8.18 million for the quarter, compared to analysts’ expectations of $4.98 million. Momenta Pharmaceuticals had a negative return on equity of 82.12% and a negative net margin of 1,215.25%. Equities analysts expect that Momenta Pharmaceuticals, Inc. will post -1.97 earnings per share for the current fiscal year.
Momenta Pharmaceuticals Company Profile
Momenta Pharmaceuticals, Inc, a biotechnology company, focuses on the discovery and development of novel biologic therapies for the treatment of rare immune-mediated diseases in the United States. Its novel therapeutic programs include M281, a fully-human anti-neonatal Fc receptor (FcRn), aglycosylated immunoglobulin G (IgG1), and monoclonal antibody to reduce circulating IgG antibodies by blocking endogenous IgG recycling via FcRn; M230, a recombinant trivalent human IgG1 Fc multimer containing three IgG Fc regions joined to maximize activity; and M254, a hyper-sialylated immunoglobulin to treat various inflammatory diseases, including idiopathic thrombocytopenic purpura and chronic inflammatory demyelinating polyneuropathy.
Further Reading: The Role of a Fiduciary and Individual Investors
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