Acadian Asset Management LLC boosted its stake in shares of Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) by 322.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 696,138 shares of the biotechnology company’s stock after buying an additional 531,525 shares during the period. Acadian Asset Management LLC owned about 0.94% of Momenta Pharmaceuticals worth $11,762,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in MNTA. BlackRock Inc. increased its position in shares of Momenta Pharmaceuticals by 64,825.8% in the first quarter. BlackRock Inc. now owns 8,774,070 shares of the biotechnology company’s stock valued at $117,134,000 after buying an additional 8,760,556 shares during the last quarter. Norges Bank purchased a new position in shares of Momenta Pharmaceuticals during the fourth quarter valued at $22,650,000. State Street Corp increased its position in shares of Momenta Pharmaceuticals by 30.8% in the first quarter. State Street Corp now owns 2,455,449 shares of the biotechnology company’s stock valued at $32,776,000 after buying an additional 577,504 shares during the last quarter. Foresite Capital Management III LLC acquired a new stake in Momenta Pharmaceuticals during the first quarter valued at approximately $5,749,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in Momenta Pharmaceuticals during the first quarter valued at approximately $5,607,000. 86.89% of the stock is owned by hedge funds and other institutional investors.
Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) traded down 1.85% during midday trading on Friday, hitting $15.90. The company had a trading volume of 746,780 shares. Momenta Pharmaceuticals, Inc. has a one year low of $10.66 and a one year high of $19.90. The company’s market cap is $1.18 billion. The company’s 50 day moving average is $16.86 and its 200-day moving average is $15.68.
Momenta Pharmaceuticals (NASDAQ:MNTA) last announced its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.50) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.50). Momenta Pharmaceuticals had a negative return on equity of 12.28% and a negative net margin of 39.35%. The company had revenue of $23.57 million during the quarter, compared to the consensus estimate of $24.64 million. During the same quarter last year, the company earned ($0.31) EPS. The company’s quarterly revenue was down 10.8% on a year-over-year basis. On average, equities analysts predict that Momenta Pharmaceuticals, Inc. will post ($1.20) EPS for the current year.
MNTA has been the subject of several recent analyst reports. Stifel Nicolaus restated a “buy” rating and issued a $26.00 price target on shares of Momenta Pharmaceuticals in a report on Thursday, August 3rd. BidaskClub cut Momenta Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. Aegis reiterated a “hold” rating and set a $17.00 target price on shares of Momenta Pharmaceuticals in a report on Wednesday, May 3rd. Barclays PLC cut Momenta Pharmaceuticals from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $20.00 to $17.00 in a report on Monday, May 22nd. Finally, Cowen and Company reiterated a “hold” rating and set a $15.00 target price on shares of Momenta Pharmaceuticals in a report on Wednesday, May 3rd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Momenta Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $16.63.
In other Momenta Pharmaceuticals news, President Craig A. Wheeler sold 4,116 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $15.83, for a total value of $65,156.28. Following the completion of the sale, the president now owns 281,919 shares in the company, valued at approximately $4,462,777.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 5,996 shares of company stock valued at $94,323 in the last quarter. Corporate insiders own 4.40% of the company’s stock.
Momenta Pharmaceuticals Company Profile
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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