Tudor Investment Corp ET AL cut its position in Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) by 17.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,100 shares of the biotechnology company’s stock after selling 4,029 shares during the period. Tudor Investment Corp ET AL’s holdings in Momenta Pharmaceuticals were worth $255,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd purchased a new position in shares of Momenta Pharmaceuticals during the first quarter valued at about $158,000. BNP Paribas Arbitrage SA increased its position in shares of Momenta Pharmaceuticals by 13.3% in the first quarter. BNP Paribas Arbitrage SA now owns 13,393 shares of the biotechnology company’s stock valued at $179,000 after buying an additional 1,570 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Momenta Pharmaceuticals by 3.0% in the first quarter. Envestnet Asset Management Inc. now owns 14,275 shares of the biotechnology company’s stock valued at $191,000 after buying an additional 411 shares during the period. Municipal Employees Retirement System of Michigan increased its position in shares of Momenta Pharmaceuticals by 2.2% in the first quarter. Municipal Employees Retirement System of Michigan now owns 14,600 shares of the biotechnology company’s stock valued at $195,000 after buying an additional 310 shares during the period. Finally, Mason Street Advisors LLC increased its position in shares of Momenta Pharmaceuticals by 8.3% in the first quarter. Mason Street Advisors LLC now owns 15,122 shares of the biotechnology company’s stock valued at $202,000 after buying an additional 1,154 shares during the period. Hedge funds and other institutional investors own 86.89% of the company’s stock.
Shares of Momenta Pharmaceuticals, Inc. (NASDAQ MNTA) opened at 15.90 on Friday. The company’s market capitalization is $1.18 billion. Momenta Pharmaceuticals, Inc. has a 52-week low of $10.66 and a 52-week high of $19.90. The stock has a 50 day moving average price of $16.80 and a 200 day moving average price of $15.69.
Momenta Pharmaceuticals (NASDAQ:MNTA) last issued its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.50) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.50). The firm had revenue of $23.57 million during the quarter, compared to analyst estimates of $24.64 million. Momenta Pharmaceuticals had a negative return on equity of 12.28% and a negative net margin of 39.35%. The company’s revenue was down 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.31) earnings per share. On average, analysts predict that Momenta Pharmaceuticals, Inc. will post ($1.20) earnings per share for the current fiscal year.
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MNTA has been the subject of several research analyst reports. Stifel Nicolaus cut their price target on shares of Momenta Pharmaceuticals from $30.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, May 3rd. Aegis restated a “hold” rating and set a $17.00 price objective on shares of Momenta Pharmaceuticals in a report on Wednesday, May 3rd. Maxim Group set a $6.00 price objective on Momenta Pharmaceuticals and gave the stock a “sell” rating in a report on Wednesday, May 3rd. Cowen and Company restated a “hold” rating and set a $15.00 price objective on shares of Momenta Pharmaceuticals in a report on Wednesday, May 3rd. Finally, Barclays PLC downgraded Momenta Pharmaceuticals from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $20.00 to $17.00 in a report on Monday, May 22nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $16.63.
In other news, President Craig A. Wheeler sold 4,116 shares of Momenta Pharmaceuticals stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $15.83, for a total value of $65,156.28. Following the transaction, the president now owns 281,919 shares in the company, valued at $4,462,777.77. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In the last quarter, insiders sold 5,996 shares of company stock worth $94,323. Company insiders own 4.40% of the company’s stock.
About Momenta Pharmaceuticals
Momenta Pharmaceuticals, Inc is a biotechnology company. The Company is focused on developing generic versions of drugs, biosimilars and therapeutics for oncology and autoimmune disease. The Company has developed generic version of LOVENOX (enoxaparin sodium injection) and COPAXONE (glatiramer acetate injection).
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