Raymond James & Associates decreased its holdings in shares of Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) by 18.7% in the 4th quarter, Holdings Channel reports. The firm owned 15,860 shares of the biotechnology company’s stock after selling 3,656 shares during the quarter. Raymond James & Associates’ holdings in Momenta Pharmaceuticals were worth $175,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. increased its stake in Momenta Pharmaceuticals by 14.0% during the fourth quarter. BlackRock Inc. now owns 13,775,141 shares of the biotechnology company’s stock valued at $152,079,000 after purchasing an additional 1,694,797 shares during the last quarter. Vanguard Group Inc lifted its holdings in Momenta Pharmaceuticals by 3.8% in the third quarter. Vanguard Group Inc now owns 7,597,950 shares of the biotechnology company’s stock worth $199,827,000 after purchasing an additional 280,177 shares during the period. Vanguard Group Inc. lifted its holdings in Momenta Pharmaceuticals by 3.8% in the third quarter. Vanguard Group Inc. now owns 7,597,950 shares of the biotechnology company’s stock worth $199,827,000 after purchasing an additional 280,177 shares during the period. Bank of New York Mellon Corp lifted its holdings in Momenta Pharmaceuticals by 17.0% in the fourth quarter. Bank of New York Mellon Corp now owns 1,046,251 shares of the biotechnology company’s stock worth $11,551,000 after purchasing an additional 152,220 shares during the period. Finally, Westfield Capital Management Co. LP acquired a new stake in Momenta Pharmaceuticals in the fourth quarter worth about $7,036,000. Hedge funds and other institutional investors own 96.85% of the company’s stock.
Shares of NASDAQ MNTA opened at $13.69 on Thursday. Momenta Pharmaceuticals, Inc. has a twelve month low of $9.55 and a twelve month high of $32.20. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of -6.74 and a beta of 2.23.
Momenta Pharmaceuticals (NASDAQ:MNTA) last issued its quarterly earnings results on Friday, February 22nd. The biotechnology company reported ($0.07) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.46) by $0.39. Momenta Pharmaceuticals had a negative net margin of 232.92% and a negative return on equity of 47.74%. The company had revenue of $42.80 million during the quarter, compared to the consensus estimate of $17.11 million. During the same period in the prior year, the company earned $0.18 EPS. Momenta Pharmaceuticals’s revenue was down 33.7% on a year-over-year basis. Equities research analysts anticipate that Momenta Pharmaceuticals, Inc. will post -1.72 earnings per share for the current fiscal year.
Several research firms recently weighed in on MNTA. Zacks Investment Research downgraded shares of Momenta Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, January 7th. BidaskClub raised shares of Momenta Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, March 29th. Cantor Fitzgerald reissued a “hold” rating and issued a $16.00 price target on shares of Momenta Pharmaceuticals in a report on Friday, February 22nd. ValuEngine downgraded shares of Momenta Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd. Finally, BTIG Research initiated coverage on shares of Momenta Pharmaceuticals in a report on Monday, March 18th. They issued a “neutral” rating and a $14.15 price target for the company. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $22.03.
In other Momenta Pharmaceuticals news, Director Bruce Downey sold 13,000 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $14.51, for a total transaction of $188,630.00. Following the sale, the director now owns 41,234 shares in the company, valued at approximately $598,305.34. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Santiago Arroyo sold 2,671 shares of the business’s stock in a transaction dated Thursday, February 14th. The stock was sold at an average price of $13.10, for a total value of $34,990.10. Following the sale, the senior vice president now owns 47,922 shares in the company, valued at approximately $627,778.20. The disclosure for this sale can be found here. Insiders sold a total of 96,393 shares of company stock valued at $1,342,719 over the last three months. 3.70% of the stock is owned by corporate insiders.
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Momenta Pharmaceuticals 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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