Tocqueville Asset Management L.P. raised its position in shares of Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) by 6.1% in the second quarter, HoldingsChannel reports. The firm owned 134,149 shares of the biotechnology company’s stock after acquiring an additional 7,750 shares during the period. Tocqueville Asset Management L.P.’s holdings in Momenta Pharmaceuticals were worth $1,670,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of MNTA. Norges Bank bought a new stake in Momenta Pharmaceuticals during the 4th quarter valued at $19,673,000. Peregrine Capital Management LLC bought a new stake in Momenta Pharmaceuticals during the 2nd quarter valued at $10,025,000. Westfield Capital Management Co. LP raised its position in Momenta Pharmaceuticals by 89.4% during the 1st quarter. Westfield Capital Management Co. LP now owns 1,206,964 shares of the biotechnology company’s stock valued at $17,537,000 after purchasing an additional 569,604 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Momenta Pharmaceuticals by 10.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,118,942 shares of the biotechnology company’s stock valued at $12,353,000 after purchasing an additional 103,474 shares in the last quarter. Finally, California Public Employees Retirement System raised its position in Momenta Pharmaceuticals by 35.8% during the 1st quarter. California Public Employees Retirement System now owns 170,046 shares of the biotechnology company’s stock valued at $2,471,000 after purchasing an additional 44,800 shares in the last quarter. 98.42% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Craig A. Wheeler sold 2,601 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $11.72, for a total transaction of $30,483.72. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Anthony M. Manning sold 39,433 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $13.00, for a total value of $512,629.00. Following the transaction, the insider now owns 6,980 shares in the company, valued at $90,740. The disclosure for this sale can be found here. Insiders sold a total of 45,176 shares of company stock worth $580,013 over the last quarter. Company insiders own 3.40% of the company’s stock.
Shares of NASDAQ:MNTA opened at $11.56 on Thursday. Momenta Pharmaceuticals, Inc. has a 12-month low of $9.51 and a 12-month high of $29.30. The firm has a fifty day moving average of $11.28. The stock has a market cap of $1.16 billion, a P/E ratio of -5.69 and a beta of 2.10.
Momenta Pharmaceuticals (NASDAQ:MNTA) last announced its quarterly earnings results on Friday, August 2nd. The biotechnology company reported ($1.16) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.42) by ($0.74). Momenta Pharmaceuticals had a negative net margin of 324.41% and a negative return on equity of 55.24%. The company had revenue of $5.18 million during the quarter, compared to analysts’ expectations of $9.20 million. During the same quarter in the prior year, the business posted ($0.91) earnings per share. The company’s revenue was down 60.2% compared to the same quarter last year. Research analysts expect that Momenta Pharmaceuticals, Inc. will post -2.5 earnings per share for the current fiscal year.
A number of equities research analysts have weighed in on MNTA shares. BidaskClub raised Momenta Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, August 7th. Cantor Fitzgerald set a $16.00 target price on Momenta Pharmaceuticals and gave the company a “hold” rating in a research report on Thursday, May 2nd. ValuEngine raised Momenta Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Finally, Zacks Investment Research lowered Momenta Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $22.23.
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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