Acadian Asset Management LLC Increases Stake in Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA)

Acadian Asset Management LLC increased its stake in shares of Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) by 322.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd bought a new position in Momenta Pharmaceuticals during the first quarter valued at $158,000. BNP Paribas Arbitrage SA increased its position in Momenta Pharmaceuticals by 13.3% in the first quarter. BNP Paribas Arbitrage SA now owns 13,393 shares of the biotechnology company’s stock valued at $179,000 after buying an additional 1,570 shares during the period. Envestnet Asset Management Inc. increased its position in Momenta Pharmaceuticals by 3.0% in the first quarter. Envestnet Asset Management Inc. now owns 14,275 shares of the biotechnology company’s stock valued at $191,000 after buying an additional 411 shares during the period. Municipal Employees Retirement System of Michigan increased its position in shares of Momenta Pharmaceuticals by 2.2% in the first quarter. Municipal Employees Retirement System of Michigan now owns 14,600 shares of the biotechnology company’s stock valued at $195,000 after buying an additional 310 shares during the last quarter. Finally, Mason Street Advisors LLC increased its position in shares of Momenta Pharmaceuticals by 8.3% in the first quarter. Mason Street Advisors LLC now owns 15,122 shares of the biotechnology company’s stock valued at $202,000 after buying an additional 1,154 shares during the last quarter. Institutional investors own 87.15% of the company’s stock.

Momenta Pharmaceuticals, Inc. (NASDAQ MNTA) traded down 0.97% on Friday, hitting $15.30. The stock had a trading volume of 337,723 shares. The stock’s market cap is $1.13 billion. The firm’s 50 day moving average price is $16.53 and its 200-day moving average price is $15.72. Momenta Pharmaceuticals, Inc. has a 12 month low of $10.66 and a 12 month high of $19.90.

Momenta Pharmaceuticals (NASDAQ:MNTA) last announced its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.50) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.50). The business had revenue of $23.57 million during the quarter, compared to the consensus estimate of $24.64 million. Momenta Pharmaceuticals had a negative net margin of 39.35% and a negative return on equity of 12.28%. The business’s revenue was down 10.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.31) EPS. On average, analysts forecast that Momenta Pharmaceuticals, Inc. will post ($1.09) EPS for the current year.

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Several equities analysts have recently commented on MNTA shares. Barclays PLC downgraded Momenta Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $20.00 to $17.00 in a research report on Monday, May 22nd. Cowen and Company restated a “hold” rating and issued a $15.00 price objective on shares of Momenta Pharmaceuticals in a research report on Wednesday, May 3rd. Maxim Group set a $6.00 price objective on Momenta Pharmaceuticals and gave the company a “sell” rating in a research report on Wednesday, May 3rd. Zacks Investment Research downgraded Momenta Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Finally, BidaskClub upgraded Momenta Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, June 23rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $16.63.

In other news, President Craig A. Wheeler sold 16,953 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $16.94, for a total transaction of $287,183.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 18,749 shares of company stock valued at $315,531 in the last 90 days. 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).

Institutional Ownership by Quarter for Momenta Pharmaceuticals (NASDAQ:MNTA)

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