Monopar Therapeutics (NASDAQ:MNPR) Shares Gap Down Following Weak Earnings

Monopar Therapeutics Inc. (NASDAQ:MNPR)’s stock price gapped down prior to trading on Friday following a dissappointing earnings announcement. The stock had previously closed at $87.01, but opened at $80.50. Monopar Therapeutics shares last traded at $82.7930, with a volume of 189,923 shares traded.

The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.02).

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Piper Sandler set a $95.00 target price on Monopar Therapeutics and gave the company an “overweight” rating in a research report on Thursday, September 25th. Jones Trading upgraded shares of Monopar Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. Raymond James Financial cut shares of Monopar Therapeutics from a “strong-buy” rating to an “outperform” rating and lowered their target price for the stock from $142.00 to $123.00 in a research note on Friday. Barclays set a $125.00 target price on shares of Monopar Therapeutics and gave the company an “overweight” rating in a report on Monday, October 13th. Finally, Leerink Partners assumed coverage on Monopar Therapeutics in a research note on Monday. They set an “outperform” rating and a $115.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $106.20.

Insider Activity

In other Monopar Therapeutics news, major shareholder Tactic Pharma Llc sold 550,229 shares of the company’s stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $63.61, for a total value of $35,000,066.69. Following the transaction, the insider owned 272,026 shares in the company, valued at approximately $17,303,573.86. This represents a 66.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 20.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Monopar Therapeutics

Large investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. acquired a new stake in shares of Monopar Therapeutics in the 3rd quarter valued at $28,000. BNP Paribas Financial Markets increased its holdings in Monopar Therapeutics by 100.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 696 shares of the company’s stock worth $57,000 after purchasing an additional 349 shares in the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Monopar Therapeutics in the 2nd quarter valued at about $34,000. AlphaQuest LLC bought a new stake in shares of Monopar Therapeutics in the first quarter valued at about $44,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Monopar Therapeutics by 1,821.0% during the second quarter. JPMorgan Chase & Co. now owns 1,921 shares of the company’s stock worth $69,000 after buying an additional 1,821 shares during the period. Institutional investors own 1.83% of the company’s stock.

Monopar Therapeutics Stock Down 6.8%

The firm has a market capitalization of $500.52 million, a P/E ratio of -24.27 and a beta of 1.35. The stock has a fifty day moving average of $77.45 and a 200-day moving average of $51.16.

About Monopar Therapeutics

Monopar Therapeutics Inc, a clinical-stage biopharmaceutical company, engages in developing therapeutics for the treatment of cancer in the United States. Its lead product candidate in development is Validive, a clonidine hydrochloride mucobuccal tablet that is in Phase 2b/3 clinical trial for the prevention of chemoradiotherapy induced severe oral mucositis in patients with oropharyngeal cancer.