Perceptive Advisors LLC Trims Stock Holdings in Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA)
Perceptive Advisors LLC lowered its stake in Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) by 2.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,835,637 shares of the biotechnology company’s stock after selling 69,363 shares during the quarter. Momenta Pharmaceuticals comprises 1.1% of Perceptive Advisors LLC’s portfolio, making the stock its 20th biggest holding. Perceptive Advisors LLC owned 2.86% of Momenta Pharmaceuticals worth $55,947,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of MNTA. Meeder Asset Management Inc. boosted its stake in Momenta Pharmaceuticals by 362.0% in the 4th quarter. Meeder Asset Management Inc. now owns 2,421 shares of the biotechnology company’s stock worth $48,000 after purchasing an additional 1,897 shares during the period. Smith Asset Management Group LP purchased a new position in Momenta Pharmaceuticals during the fourth quarter valued at $62,000. Nisa Investment Advisors LLC increased its holdings in Momenta Pharmaceuticals by 611.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,770 shares of the biotechnology company’s stock valued at $94,000 after acquiring an additional 4,100 shares during the last quarter. Teza Capital Management LLC bought a new stake in Momenta Pharmaceuticals in the 4th quarter valued at $228,000. Finally, Victory Capital Management Inc. lifted its stake in Momenta Pharmaceuticals by 22.0% in the 4th quarter. Victory Capital Management Inc. now owns 14,083 shares of the biotechnology company’s stock worth $409,000 after purchasing an additional 2,541 shares in the last quarter. 97.03% of the stock is currently owned by hedge funds and other institutional investors.
MNTA has been the subject of several research reports. ValuEngine lowered shares of Momenta Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, December 24th. Cantor Fitzgerald restated a “neutral” rating and set a $30.00 price target (up previously from $22.00) on shares of Momenta Pharmaceuticals in a report on Wednesday, February 26th. Stifel Nicolaus reaffirmed a “buy” rating and set a $43.00 price target (up from $29.00) on shares of Momenta Pharmaceuticals in a research note on Monday, January 27th. BidaskClub raised Momenta Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Finally, JPMorgan Chase & Co. upgraded shares of Momenta Pharmaceuticals from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $14.00 to $30.00 in a report on Tuesday, January 14th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Momenta Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $35.00.
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 net margin of 1,215.25% and a negative return on equity of 82.12%. As a group, sell-side analysts expect that Momenta Pharmaceuticals, Inc. will post -1.97 earnings per share for the current fiscal year.
In other Momenta Pharmaceuticals news, insider Jo Ann Beltramello sold 122,589 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $23.42, for a total transaction of $2,871,034.38. Following the transaction, the insider now owns 46,078 shares in the company, valued at approximately $1,079,146.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Elizabeth Stoner sold 4,236 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $25.00, for a total transaction of $105,900.00. Following the transaction, the director now owns 39,745 shares in the company, valued at approximately $993,625. The disclosure for this sale can be found here. Insiders have sold a total of 271,235 shares of company stock worth $7,361,311 over the last ninety days. 3.40% of the stock is currently owned by corporate insiders.
Momenta Pharmaceuticals 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.
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