Louisiana State Employees Retirement System Boosts Position in Momenta Pharmaceuticals, Inc. (MNTA)
Louisiana State Employees Retirement System raised its stake in shares of Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) by 3.4% during the second quarter, Holdings Channel reports. The fund owned 27,200 shares of the biotechnology company’s stock after buying an additional 900 shares during the period. Louisiana State Employees Retirement System’s holdings in Momenta Pharmaceuticals were worth $460,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd acquired a new stake in Momenta Pharmaceuticals during the first quarter valued at approximately $158,000. BNP Paribas Arbitrage SA raised its stake in Momenta Pharmaceuticals by 13.3% in the first quarter. BNP Paribas Arbitrage SA now owns 13,393 shares of the biotechnology company’s stock valued at $179,000 after buying an additional 1,570 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Momenta Pharmaceuticals by 3.0% in the first quarter. Envestnet Asset Management Inc. now owns 14,275 shares of the biotechnology company’s stock valued at $191,000 after buying an additional 411 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its stake in Momenta Pharmaceuticals by 2.2% in the first quarter. Municipal Employees Retirement System of Michigan now owns 14,600 shares of the biotechnology company’s stock valued at $195,000 after buying an additional 310 shares during the last quarter. Finally, Mason Street Advisors LLC raised its stake in Momenta Pharmaceuticals by 8.3% in the first quarter. Mason Street Advisors LLC now owns 15,122 shares of the biotechnology company’s stock valued at $202,000 after buying an additional 1,154 shares during the last quarter. 86.89% of the stock is owned by hedge funds and other institutional investors.
Momenta Pharmaceuticals, Inc. (MNTA) traded down 1.85% during midday trading on Friday, reaching $15.90. 746,780 shares of the company traded hands. The stock’s market capitalization is $1.18 billion. The firm has a 50-day moving average of $16.80 and a 200-day moving average of $15.69. Momenta Pharmaceuticals, Inc. has a 1-year low of $10.66 and a 1-year high of $19.90.
Momenta Pharmaceuticals (NASDAQ:MNTA) last announced its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.50) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.50). Momenta Pharmaceuticals had a negative return on equity of 12.28% and a negative net margin of 39.35%. The company had revenue of $23.57 million during the quarter, compared to the consensus estimate of $24.64 million. During the same period in the previous year, the company posted ($0.31) earnings per share. Momenta Pharmaceuticals’s revenue for the quarter was down 10.8% on a year-over-year basis. On average, analysts predict that Momenta Pharmaceuticals, Inc. will post ($1.20) earnings per share for the current year.
MNTA has been the subject of several research reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $26.00 price target on shares of Momenta Pharmaceuticals in a research report on Thursday, August 3rd. BidaskClub raised shares of Momenta Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Friday, June 23rd. Barclays PLC lowered shares of Momenta Pharmaceuticals from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $20.00 to $17.00 in a report on Monday, May 22nd. Cowen and Company reissued a “hold” rating and issued a $15.00 target price on shares of Momenta Pharmaceuticals in a report on Wednesday, May 3rd. Finally, Aegis reissued a “hold” rating and issued a $17.00 target price on shares of Momenta Pharmaceuticals in a report on Wednesday, May 3rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $16.63.
In other Momenta Pharmaceuticals news, President Craig A. Wheeler sold 4,116 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $15.83, for a total value of $65,156.28. Following the completion of the transaction, the president now directly owns 281,919 shares of the company’s stock, valued at $4,462,777.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 5,996 shares of company stock valued at $94,323 over the last three months. 4.40% of the stock is currently owned by corporate insiders.
About Momenta Pharmaceuticals
Momenta Pharmaceuticals, Inc is a biotechnology company. The Company is focused on developing generic versions of drugs, biosimilars and therapeutics for oncology and autoimmune disease. The Company has developed generic version of LOVENOX (enoxaparin sodium injection) and COPAXONE (glatiramer acetate injection).
Want to see what other hedge funds are holding MNTA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA).
Receive News & Ratings for Momenta Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Momenta Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.