Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) CEO Craig A. Wheeler sold 2,601 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $13.98, for a total transaction of $36,361.98. Following the sale, the chief executive officer now directly owns 21,531 shares of the company’s stock, valued at approximately $301,003.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
NASDAQ MNTA opened at $14.25 on Friday. Momenta Pharmaceuticals, Inc. has a 52 week low of $9.55 and a 52 week high of $32.20. The stock has a market cap of $1.40 billion, a PE ratio of -7.02 and a beta of 2.17.
Momenta Pharmaceuticals (NASDAQ:MNTA) last released its quarterly earnings results on Thursday, May 2nd. The biotechnology company reported ($0.46) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.45) by ($0.01). Momenta Pharmaceuticals had a negative net margin of 231.49% and a negative return on equity of 43.98%. The business had revenue of $4.11 million for the quarter, compared to analysts’ expectations of $10.12 million. During the same period in the previous year, the company earned ($0.63) EPS. Momenta Pharmaceuticals’s revenue for the quarter was down 15.3% compared to the same quarter last year. As a group, sell-side analysts expect that Momenta Pharmaceuticals, Inc. will post -1.68 earnings per share for the current fiscal year.
Several research firms have recently commented on MNTA. Zacks Investment Research lowered shares of Momenta Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 29th. BidaskClub raised shares of Momenta Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, March 29th. Cantor Fitzgerald set a $16.00 price target on shares of Momenta Pharmaceuticals and gave the company a “hold” rating in a research report on Thursday, May 2nd. Finally, BTIG Research began coverage on shares of Momenta Pharmaceuticals in a research report on Monday, March 18th. They set a “neutral” rating and a $14.15 price target for the company. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Momenta Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $22.23.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Amalgamated Bank bought a new position in shares of Momenta Pharmaceuticals during the 4th quarter valued at approximately $136,000. Morgan Stanley grew its stake in shares of Momenta Pharmaceuticals by 18.2% during the 3rd quarter. Morgan Stanley now owns 247,040 shares of the biotechnology company’s stock valued at $6,497,000 after acquiring an additional 37,970 shares during the period. TD Asset Management Inc. grew its stake in shares of Momenta Pharmaceuticals by 84.7% during the 4th quarter. TD Asset Management Inc. now owns 90,484 shares of the biotechnology company’s stock valued at $999,000 after acquiring an additional 41,484 shares during the period. Legal & General Group Plc grew its stake in shares of Momenta Pharmaceuticals by 7.8% during the 3rd quarter. Legal & General Group Plc now owns 183,105 shares of the biotechnology company’s stock valued at $4,719,000 after acquiring an additional 13,239 shares during the period. Finally, Edmond DE Rothschild Holding S.A. grew its stake in shares of Momenta Pharmaceuticals by 10.6% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 260,300 shares of the biotechnology company’s stock valued at $2,874,000 after acquiring an additional 25,000 shares during the period. 96.70% of the stock is owned by hedge funds and other institutional investors.
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About Momenta Pharmaceuticals
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.
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