State of Tennessee Treasury Department trimmed its position in Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) by 9.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,057 shares of the biotechnology company’s stock after selling 6,539 shares during the period. State of Tennessee Treasury Department owned 0.08% of Momenta Pharmaceuticals worth $838,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the business. Virtus Fund Advisers LLC bought a new stake in Momenta Pharmaceuticals during the fourth quarter worth about $1,012,000. BlackRock Inc. lifted its stake in shares of Momenta Pharmaceuticals by 0.8% in the fourth quarter. BlackRock Inc. now owns 10,473,316 shares of the biotechnology company’s stock worth $146,105,000 after buying an additional 82,691 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Momenta Pharmaceuticals by 16.5% in the fourth quarter. Rhumbline Advisers now owns 175,202 shares of the biotechnology company’s stock worth $2,444,000 after buying an additional 24,862 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Momenta Pharmaceuticals by 224.8% in the fourth quarter. Arizona State Retirement System now owns 128,388 shares of the biotechnology company’s stock worth $1,791,000 after buying an additional 88,854 shares in the last quarter. Finally, Pinebridge Investments L.P. lifted its stake in shares of Momenta Pharmaceuticals by 351.6% in the fourth quarter. Pinebridge Investments L.P. now owns 42,716 shares of the biotechnology company’s stock worth $596,000 after buying an additional 33,257 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.
Several research analysts have recently weighed in on the stock. Stifel Nicolaus raised shares of Momenta Pharmaceuticals from a “hold” rating to a “buy” rating and boosted their price objective for the company from $18.00 to $21.00 in a report on Thursday, February 22nd. BidaskClub raised shares of Momenta Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, February 13th. ValuEngine upgraded shares of Momenta Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Zacks Investment Research upgraded shares of Momenta Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $15.33.
MNTA stock traded down $0.45 during trading on Friday, hitting $17.50. The company had a trading volume of 522,039 shares, compared to its average volume of 903,199. The company has a market capitalization of $1,429.56, a PE ratio of -14.58 and a beta of 1.64. Momenta Pharmaceuticals, Inc. has a 52-week low of $11.85 and a 52-week high of $19.25.
Momenta Pharmaceuticals (NASDAQ:MNTA) last released its quarterly earnings results on Wednesday, February 21st. The biotechnology company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.12. Momenta Pharmaceuticals had a negative net margin of 63.43% and a negative return on equity of 23.62%. The business had revenue of $64.60 million for the quarter, compared to analysts’ expectations of $66.59 million. During the same period last year, the business earned $0.60 EPS. The company’s revenue was up 88.9% compared to the same quarter last year. analysts predict that Momenta Pharmaceuticals, Inc. will post -1.27 earnings per share for the current fiscal year.
In other Momenta Pharmaceuticals news, CEO Craig A. Wheeler sold 3,938 shares of Momenta Pharmaceuticals stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $16.46, for a total transaction of $64,819.48. Following the completion of the sale, the chief executive officer now directly owns 239,869 shares in the company, valued at approximately $3,948,243.74. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Elizabeth Stoner sold 16,264 shares of Momenta Pharmaceuticals stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $18.00, for a total transaction of $292,752.00. Following the sale, the director now owns 32,440 shares of the company’s stock, valued at $583,920. The disclosure for this sale can be found here. Insiders sold a total of 70,836 shares of company stock valued at $1,158,448 over the last quarter. 4.40% of the stock is owned by company insiders.
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About Momenta Pharmaceuticals
Momenta Pharmaceuticals, Inc, a biotechnology company, focuses on developing generic versions of complex drugs, biosimilars, and novel therapeutics for autoimmune diseases in the United States. The company's complex generics programs include Enoxaparin sodium injection, a generic version of Lovenox that is indicated for the prevention and treatment of deep vein thrombosis, as well as supports the treatment of acute coronary syndromes; GLATOPA, a generic version of once-daily COPAXONE for the treatment of patients with relapsing-remitting multiple sclerosis; and GLATOPA, a generic product candidate for three-times-weekly COPAXONE.
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