TIAA CREF Investment Management LLC cut its stake in shares of Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) by 4.7% during the third quarter, HoldingsChannel reports. The firm owned 263,643 shares of the biotechnology company’s stock after selling 13,093 shares during the period. TIAA CREF Investment Management LLC’s holdings in Momenta Pharmaceuticals were worth $6,934,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. MetLife Investment Advisors LLC raised its holdings in shares of Momenta Pharmaceuticals by 55.2% in the third quarter. MetLife Investment Advisors LLC now owns 55,347 shares of the biotechnology company’s stock valued at $1,456,000 after purchasing an additional 19,674 shares during the last quarter. Putnam Investments LLC acquired a new stake in shares of Momenta Pharmaceuticals in the third quarter valued at approximately $6,706,000. Trexquant Investment LP acquired a new stake in shares of Momenta Pharmaceuticals in the third quarter valued at approximately $483,000. FMR LLC raised its holdings in shares of Momenta Pharmaceuticals by 1.0% in the third quarter. FMR LLC now owns 11,747,215 shares of the biotechnology company’s stock valued at $308,951,000 after purchasing an additional 113,380 shares during the last quarter. Finally, BlackRock Inc. raised its holdings in shares of Momenta Pharmaceuticals by 3.4% in the third quarter. BlackRock Inc. now owns 12,080,344 shares of the biotechnology company’s stock valued at $317,713,000 after purchasing an additional 399,232 shares during the last quarter. 76.34% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO Craig A. Wheeler sold 4,374 shares of the firm’s stock in a transaction on Monday, November 12th. The shares were sold at an average price of $13.50, for a total value of $59,049.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 8,136 shares of company stock valued at $106,026 over the last three months. 3.70% of the stock is owned by company insiders.
NASDAQ:MNTA opened at $12.16 on Friday. Momenta Pharmaceuticals, Inc. has a 1-year low of $9.55 and a 1-year high of $32.20.
Momenta Pharmaceuticals (NASDAQ:MNTA) last released its earnings results on Wednesday, November 7th. The biotechnology company reported ($0.45) earnings per share for the quarter, beating the consensus estimate of ($0.63) by $0.18. Momenta Pharmaceuticals had a negative net margin of 158.21% and a negative return on equity of 44.72%. The business had revenue of $14.88 million during the quarter, compared to analysts’ expectations of $16.99 million. During the same period last year, the business earned ($0.44) earnings per share. The firm’s revenue was down 38.2% on a year-over-year basis. Sell-side analysts forecast that Momenta Pharmaceuticals, Inc. will post -2.73 EPS for the current fiscal year.
A number of analysts have recently issued reports on MNTA shares. ValuEngine downgraded shares of Momenta Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, December 3rd. Cantor Fitzgerald set a $24.00 target price on shares of Momenta Pharmaceuticals and gave the company a “hold” rating in a research note on Wednesday, October 10th. Piper Jaffray Companies started coverage on shares of Momenta Pharmaceuticals in a research note on Monday, November 5th. They issued an “overweight” rating and a $35.00 target price for the company. BidaskClub cut shares of Momenta Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 4th. Finally, Zacks Investment Research raised shares of Momenta Pharmaceuticals from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Monday, October 15th. One analyst has 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 target price of $25.75.
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Momenta Pharmaceuticals Profile
Momenta Pharmaceuticals, Inc, a biotechnology company, focuses on developing generic versions of complex drugs, biosimilars, and novel therapeutics for autoimmune diseases in the United States. The company's complex generics programs include Enoxaparin sodium injection, a generic version of Lovenox that is indicated for the prevention and treatment of deep vein thrombosis, as well as supports the treatment of acute coronary syndromes; GLATOPA, a generic version of once-daily COPAXONE for the treatment of patients with relapsing-remitting multiple sclerosis; and GLATOPA, a generic product candidate for three-times-weekly COPAXONE.
See Also: SEC Filing
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