Pacad Investment Ltd. Has $123,000 Position in Momenta Pharmaceuticals, Inc. (MNTA)
Pacad Investment Ltd. cut its stake in shares of Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) by 58.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,300 shares of the biotechnology company’s stock after selling 10,100 shares during the quarter. Pacad Investment Ltd.’s holdings in Momenta Pharmaceuticals were worth $123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. Tortoise Investment Management LLC purchased a new stake in Momenta Pharmaceuticals during the 2nd quarter valued at about $114,000. Dynamic Technology Lab Private Ltd purchased a new stake in Momenta Pharmaceuticals during the 1st quarter valued at about $158,000. State of Alaska Department of Revenue boosted its holdings in Momenta Pharmaceuticals by 84.6% during the 2nd quarter. State of Alaska Department of Revenue now owns 13,184 shares of the biotechnology company’s stock valued at $222,000 after acquiring an additional 6,044 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in Momenta Pharmaceuticals by 13.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 13,393 shares of the biotechnology company’s stock valued at $179,000 after acquiring an additional 1,570 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in Momenta Pharmaceuticals by 3.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 14,275 shares of the biotechnology company’s stock valued at $191,000 after acquiring an additional 411 shares during the period. Institutional investors own 93.86% of the company’s stock.
In related news, President Craig A. Wheeler sold 4,116 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $15.07, for a total value of $62,028.12. Following the completion of the sale, the president now owns 269,231 shares in the company, valued at $4,057,311.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 43,996 shares of company stock valued at $735,755 in the last quarter. 4.40% of the stock is owned by company insiders.
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Shares of Momenta Pharmaceuticals, Inc. (NASDAQ MNTA) opened at 17.60 on Friday. The firm has a 50-day moving average price of $16.42 and a 200 day moving average price of $15.52. The stock’s market cap is $1.30 billion. Momenta Pharmaceuticals, Inc. has a 12-month low of $10.75 and a 12-month 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 analysts’ consensus estimates of ($0.50). The firm had revenue of $23.57 million during the quarter, compared to analyst estimates of $24.64 million. Momenta Pharmaceuticals had a negative return on equity of 12.28% and a negative net margin of 39.35%. Momenta Pharmaceuticals’s quarterly revenue was down 10.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.31) earnings per share. Equities research analysts expect that Momenta Pharmaceuticals, Inc. will post ($1.39) earnings per share for the current year.
Several equities research analysts recently weighed in on MNTA shares. Stifel Nicolaus restated a “buy” rating and set a $26.00 target price on shares of Momenta Pharmaceuticals in a report on Thursday, August 3rd. BidaskClub upgraded Momenta Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Friday, June 23rd. Barclays PLC cut Momenta Pharmaceuticals from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $20.00 to $17.00 in a report on Monday, May 22nd. Zacks Investment Research cut Momenta Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Finally, Maxim Group set a $6.00 price objective on Momenta Pharmaceuticals and gave the stock a “sell” rating in a report on Thursday, August 3rd. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $16.63.
Momenta Pharmaceuticals Company Profile
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).
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