9 Meters Biopharma (NASDAQ:NMTR) PT Lowered to $1.70 at Citigroup

9 Meters Biopharma (NASDAQ:NMTR – Get Rating) had its target price trimmed by Citigroup from $2.70 to $1.70 in a research note published on Thursday morning, The Fly reports.

9 Meters Biopharma Price Performance

NMTR opened at $1.38 on Thursday. 9 Meters Biopharma has a 12-month low of $1.00 and a 12-month high of $13.20. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 1.17. The stock has a 50-day moving average price of $2.00 and a 200-day moving average price of $2.58.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NMTR. Valeo Financial Advisors LLC raised its position in shares of 9 Meters Biopharma by 5.8% in the 3rd quarter. Valeo Financial Advisors LLC now owns 209,688 shares of the company’s stock worth $45,000 after acquiring an additional 11,540 shares in the last quarter. HRT Financial LP grew its stake in shares of 9 Meters Biopharma by 202.2% in the 4th quarter. HRT Financial LP now owns 42,530 shares of the company’s stock worth $53,000 after buying an additional 28,455 shares during the last quarter. Virtu Financial LLC boosted its stake in 9 Meters Biopharma by 25.6% during the 3rd quarter. Virtu Financial LLC now owns 228,595 shares of the company’s stock valued at $49,000 after purchasing an additional 46,612 shares during the last quarter. UBS Group AG boosted its stake in 9 Meters Biopharma by 301.3% during the 2nd quarter. UBS Group AG now owns 114,914 shares of the company’s stock valued at $30,000 after purchasing an additional 86,281 shares during the last quarter. Finally, State Street Corp boosted its stake in 9 Meters Biopharma by 2.5% during the 1st quarter. State Street Corp now owns 3,829,916 shares of the company’s stock valued at $2,295,000 after purchasing an additional 91,800 shares during the last quarter.

9 Meters Biopharma Company Profile

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9 Meters Biopharma, Inc is a clinical-stage biopharmaceutical company, which focuses on rare and unmet needs in gastroenterology. Its pipeline includes drug candidates for short bowel syndrome (SBS), celiac disease, and three early-stage candidates for undisclosed rare diseases and/or unmet needs. The company is founded by Jay P.