Anthony M. Manning Sells 6,365 Shares of Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) Stock

Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) insider Anthony M. Manning sold 6,365 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $13.83, for a total value of $88,027.95. Following the sale, the insider now owns 20,603 shares in the company, valued at approximately $284,939.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

NASDAQ:MNTA opened at $14.58 on Wednesday. The company has a market cap of $1.41 billion, a P/E ratio of -7.18 and a beta of 2.03. The stock’s fifty day moving average price is $13.42 and its two-hundred day moving average price is $12.72. Momenta Pharmaceuticals, Inc. has a 1 year low of $9.51 and a 1 year high of $16.11.

Momenta Pharmaceuticals (NASDAQ:MNTA) last posted its earnings results on Friday, August 2nd. The biotechnology company reported ($1.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.74). The company had revenue of $5.18 million for the quarter, compared to analysts’ expectations of $9.20 million. Momenta Pharmaceuticals had a negative return on equity of 55.24% and a negative net margin of 324.41%. The company’s revenue was down 60.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.91) EPS. Equities analysts forecast that Momenta Pharmaceuticals, Inc. will post -2.52 earnings per share for the current year.

Several equities research analysts have issued reports on MNTA shares. BidaskClub upgraded Momenta Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. HC Wainwright started coverage on Momenta Pharmaceuticals in a research report on Wednesday, September 25th. They set a “buy” rating and a $24.00 target price on the stock. ValuEngine downgraded Momenta Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 15th. Finally, Piper Jaffray Companies set a $35.00 target price on Momenta Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $22.53.

Several institutional investors have recently added to or reduced their stakes in the company. Peregrine Capital Management LLC increased its holdings in shares of Momenta Pharmaceuticals by 3.4% in the third quarter. Peregrine Capital Management LLC now owns 832,627 shares of the biotechnology company’s stock worth $10,791,000 after purchasing an additional 27,377 shares during the period. State of Alaska Department of Revenue increased its holdings in shares of Momenta Pharmaceuticals by 126.2% in the third quarter. State of Alaska Department of Revenue now owns 75,827 shares of the biotechnology company’s stock worth $982,000 after purchasing an additional 42,300 shares during the period. Macquarie Group Ltd. increased its holdings in shares of Momenta Pharmaceuticals by 54.6% in the second quarter. Macquarie Group Ltd. now owns 218,717 shares of the biotechnology company’s stock worth $2,723,000 after purchasing an additional 77,216 shares during the period. Atria Investments LLC bought a new position in shares of Momenta Pharmaceuticals in the second quarter worth $1,518,000. Finally, International Biotechnology Trust PLC increased its holdings in shares of Momenta Pharmaceuticals by 46.6% in the second quarter. International Biotechnology Trust PLC now owns 80,000 shares of the biotechnology company’s stock worth $997,000 after purchasing an additional 25,420 shares during the period. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

Momenta Pharmaceuticals Company 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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