Mentari Therapeutics (NASDAQ:MTRI) Stock: Insider Adar1 Capital Management, Llc Acquires 2,640 Shares

Mentari Therapeutics (NASDAQ:MTRI) major shareholder Adar1 Capital Management, Llc purchased 2,640 shares of the stock in a transaction dated Thursday, November 5th. The stock was bought at an average cost of $13.10 per share, with a total value of $34,584.00. Following the completion of the purchase, the insider owned 98,297 shares in the company, valued at $1,287,690.70. The trade was a 2.76% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Mentari Therapeutics Price Performance

Shares of NASDAQ:MTRI opened at $15.61 on Thursday. Mentari Therapeutics has a fifty-two week low of $5.75 and a fifty-two week high of $23.30.

Analysts Set New Price Targets

MTRI has been the topic of several analyst reports. Jefferies Financial Group initiated coverage on shares of Mentari Therapeutics in a report on Tuesday. They issued a “buy” rating and a $30.00 target price on the stock. Guggenheim began coverage on shares of Mentari Therapeutics in a research report on Monday. They set a “strong-buy” rating on the stock. Finally, Stifel Nicolaus initiated coverage on shares of Mentari Therapeutics in a report on Tuesday. They issued a “buy” rating and a $30.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $30.00.

Mentari Therapeutics Company Profile

InMed Pharmaceuticals Inc., a clinical stage pharmaceutical company, researches and develops cannabinoid-based therapies. The company’s lead product is INM-755, a cannabinol topical cream, which is in a second Phase I clinical trials for the treatment of epidermolysis bullosa. The company is also involved in developing INM-088, which is in preclinical studies for the treatment of glaucoma; and INM-405 for the treatment of pain. In addition, it engages in the development of cannabinoid-based treatments for various diseases, including dermatology and ocular diseases.