Stifel Financial Corp boosted its holdings in shares of Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) by 43.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,622 shares of the biotechnology company’s stock after buying an additional 9,813 shares during the quarter. Stifel Financial Corp’s holdings in Momenta Pharmaceuticals were worth $553,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of MNTA. Tortoise Investment Management LLC bought a new position in Momenta Pharmaceuticals in the 2nd quarter worth approximately $114,000. Pinebridge Investments L.P. grew its holdings in Momenta Pharmaceuticals by 4.3% during the 2nd quarter. Pinebridge Investments L.P. now owns 8,798 shares of the biotechnology company’s stock worth $149,000 after acquiring an additional 363 shares during the period. Municipal Employees Retirement System of Michigan grew its holdings in Momenta Pharmaceuticals by 2.2% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 14,600 shares of the biotechnology company’s stock worth $195,000 after acquiring an additional 310 shares during the period. Karp Capital Management Corp acquired a new stake in Momenta Pharmaceuticals during the 1st quarter worth $221,000. Finally, State of Alaska Department of Revenue grew its holdings in Momenta Pharmaceuticals by 84.6% during the 2nd quarter. State of Alaska Department of Revenue now owns 13,184 shares of the biotechnology company’s stock worth $222,000 after acquiring an additional 6,044 shares during the period. 91.19% of the stock is currently owned by institutional investors.
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In other Momenta Pharmaceuticals news, President Craig A. Wheeler sold 35,667 shares of the stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $19.03, for a total transaction of $678,743.01. Following the transaction, the president now owns 286,121 shares in the company, valued at approximately $5,444,882.63. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Craig A. Wheeler sold 4,116 shares of the stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $15.07, for a total transaction of $62,028.12. Following the sale, the president now owns 269,231 shares in the company, valued at approximately $4,057,311.17. The disclosure for this sale can be found here. In the last quarter, insiders sold 64,372 shares of company stock worth $1,146,002. 4.40% of the stock is owned by company insiders.
Shares of Momenta Pharmaceuticals, Inc. (NASDAQ MNTA) traded down $0.20 during mid-day trading on Tuesday, hitting $12.90. 505,900 shares of the stock were exchanged, compared to its average volume of 779,260. Momenta Pharmaceuticals, Inc. has a 12 month low of $11.85 and a 12 month high of $19.90.
Momenta Pharmaceuticals (NASDAQ:MNTA) last issued its earnings results on Wednesday, November 1st. The biotechnology company reported ($0.44) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.47) by $0.03. Momenta Pharmaceuticals had a negative net margin of 55.61% and a negative return on equity of 16.20%. The company had revenue of $24.09 million for the quarter, compared to analysts’ expectations of $29.58 million. During the same period in the prior year, the firm earned ($0.26) EPS. Momenta Pharmaceuticals’s quarterly revenue was down 17.3% compared to the same quarter last year. analysts predict that Momenta Pharmaceuticals, Inc. will post -1.16 earnings per share for the current year.
MNTA has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Momenta Pharmaceuticals from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Wednesday, October 4th. Stifel Nicolaus reissued a “buy” rating and issued a $26.00 price target on shares of Momenta Pharmaceuticals in a report on Thursday, August 3rd. Barclays PLC reissued an “equal weight” rating and issued a $16.00 price target (down previously from $17.00) on shares of Momenta Pharmaceuticals in a report on Wednesday, October 4th. Robert W. Baird lowered shares of Momenta Pharmaceuticals from a “buy” rating to a “hold” rating and decreased their price target for the company from $22.00 to $15.00 in a report on Friday, October 6th. Finally, J P Morgan Chase & Co reissued a “hold” rating and issued a $14.00 price target on shares of Momenta Pharmaceuticals in a report on Thursday, October 5th. Three investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. Momenta Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $15.00.
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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