Momenta Pharmaceuticals, Inc. (MNTA) Short Interest Up 26.8% in October

Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) saw a large increase in short interest during the month of October. As of October 13th, there was short interest totalling 6,783,361 shares, an increase of 26.8% from the September 29th total of 5,349,100 shares. Currently, 9.6% of the company’s shares are short sold. Based on an average trading volume of 1,937,230 shares, the days-to-cover ratio is presently 3.5 days.

Shares of Momenta Pharmaceuticals (NASDAQ:MNTA) opened at 14.35 on Tuesday. The company’s 50-day moving average is $15.54 and its 200-day moving average is $15.86. The firm’s market cap is $1.06 billion. Momenta Pharmaceuticals has a 52-week low of $10.75 and a 52-week high of $19.90.

Momenta Pharmaceuticals (NASDAQ:MNTA) last posted its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.50) earnings per share 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 period last year, the business earned ($0.31) EPS. The business’s quarterly revenue was down 10.8% on a year-over-year basis. Equities research analysts forecast that Momenta Pharmaceuticals will post ($1.50) earnings per share for the current fiscal year.

MNTA has been the subject of a number of research analyst reports. Goldman Sachs Group, Inc. (The) began coverage on shares of Momenta Pharmaceuticals in a research note on Thursday, September 28th. They set a “neutral” rating and a $18.00 price objective for the company. Zacks Investment Research downgraded shares of Momenta Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Robert W. Baird downgraded shares of Momenta Pharmaceuticals from a “buy” rating to a “hold” rating and dropped their target price for the stock from $22.00 to $15.00 in a research report on Friday, October 6th. Stifel Nicolaus reissued a “hold” rating and set a $15.00 target price (down previously from $22.00) on shares of Momenta Pharmaceuticals in a research report on Wednesday, October 4th. Finally, Maxim Group set a $6.00 target price on shares of Momenta Pharmaceuticals and gave the stock a “sell” rating in a research report on Thursday, August 3rd. Three equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $15.00.

In other news, President Craig A. Wheeler sold 4,116 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $15.07, for a total transaction of $62,028.12. Following the completion of the transaction, the president now owns 269,231 shares of the company’s stock, valued at approximately $4,057,311.17. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President Craig A. Wheeler sold 35,667 shares of the company’s stock in a transaction dated 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 directly owns 286,121 shares of the company’s stock, valued at approximately $5,444,882.63. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 79,663 shares of company stock valued at $1,414,498. Corporate insiders own 4.40% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. FMR LLC raised its stake in shares of Momenta Pharmaceuticals by 3.3% in the 2nd quarter. FMR LLC now owns 11,125,193 shares of the biotechnology company’s stock valued at $188,015,000 after acquiring an additional 351,743 shares in the last quarter. BlackRock Inc. raised its stake in shares of Momenta Pharmaceuticals by 7.1% in the 2nd quarter. BlackRock Inc. now owns 9,400,485 shares of the biotechnology company’s stock valued at $158,868,000 after acquiring an additional 626,415 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Momenta Pharmaceuticals by 4.9% in the 2nd quarter. Vanguard Group Inc. now owns 6,243,767 shares of the biotechnology company’s stock valued at $105,519,000 after acquiring an additional 290,090 shares in the last quarter. State Street Corp raised its stake in shares of Momenta Pharmaceuticals by 8.1% in the 2nd quarter. State Street Corp now owns 2,653,427 shares of the biotechnology company’s stock valued at $44,842,000 after acquiring an additional 197,978 shares in the last quarter. Finally, Palo Alto Investors LLC raised its stake in shares of Momenta Pharmaceuticals by 1.6% in the 2nd quarter. Palo Alto Investors LLC now owns 1,787,576 shares of the biotechnology company’s stock valued at $30,210,000 after acquiring an additional 28,200 shares in the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.

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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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