Insider Buying: Mentari Therapeutics (NASDAQ:MTRI) Major Shareholder Buys $34,584.00 in Stock

Mentari Therapeutics (NASDAQ:MTRI) major shareholder Adar1 Capital Management, Llc purchased 2,640 shares of the firm’s stock in a transaction on Thursday, November 5th. The stock was bought at an average price of $13.10 per share, for a total transaction of $34,584.00. Following the completion of the transaction, the insider directly owned 98,297 shares in the company, valued at approximately $1,287,690.70. The trade was a 2.76% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Mentari Therapeutics Trading Down 100.0%

Wall Street Analysts Forecast Growth

Several research firms have commented on MTRI. Jefferies Financial Group started coverage on Mentari Therapeutics in a report on Tuesday. They issued a “buy” rating for the company. Stifel Nicolaus began coverage on Mentari Therapeutics in a report on Tuesday. They set a “buy” rating and a $30.00 price objective on the stock. Two research analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $30.00.

Mentari Therapeutics Company Profile

InMed Pharmaceuticals Inc, a clinical stage pharmaceutical company, researches and develops cannabinoid-based therapies. The company’s lead product is INM-755, a cannabinol topical cream, which is in a second Phase I clinical trials for the treatment of epidermolysis bullosa. The company is also involved in developing INM-088, which is in preclinical studies for the treatment of glaucoma; and INM-405 for the treatment of pain. In addition, it engages in the development of cannabinoid-based treatments for various diseases, including dermatology and ocular diseases.