Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) by 68.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,625 shares of the biotechnology company’s stock after buying an additional 3,088 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Momenta Pharmaceuticals were worth $95,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently added to or reduced their stakes in the company. Quantamental Technologies LLC purchased a new position in shares of Momenta Pharmaceuticals in the 1st quarter worth $68,000. Marshall Wace North America L.P. purchased a new position in shares of Momenta Pharmaceuticals in the 1st quarter worth $130,000. CWM Advisors LLC boosted its stake in shares of Momenta Pharmaceuticals by 17.2% in the 2nd quarter. CWM Advisors LLC now owns 13,780 shares of the biotechnology company’s stock worth $172,000 after buying an additional 2,020 shares during the last quarter. Quantitative Systematic Strategies LLC purchased a new position in shares of Momenta Pharmaceuticals in the 2nd quarter worth $187,000. Finally, Everence Capital Management Inc. purchased a new position in shares of Momenta Pharmaceuticals in the 1st quarter worth $214,000. Hedge funds and other institutional investors own 99.88% of the company’s stock.
In other news, CEO Craig A. Wheeler sold 2,601 shares of Momenta Pharmaceuticals stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $11.72, for a total value of $30,483.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Anthony M. Manning sold 39,433 shares of Momenta Pharmaceuticals stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $13.00, for a total value of $512,629.00. Following the completion of the sale, the insider now directly owns 6,980 shares in the company, valued at $90,740. The disclosure for this sale can be found here. Insiders sold 45,176 shares of company stock worth $580,013 over the last 90 days. Company insiders own 3.40% of the company’s stock.
Momenta Pharmaceuticals (NASDAQ:MNTA) last announced its quarterly earnings data on Friday, August 2nd. The biotechnology company reported ($1.16) EPS for the quarter, missing the Thomson Reuters’ 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 business had revenue of $5.18 million during the quarter, compared to analysts’ expectations of $9.20 million. During the same quarter in the previous year, the firm earned ($0.91) earnings per share. Momenta Pharmaceuticals’s revenue was down 60.2% on a year-over-year basis. As a group, analysts predict that Momenta Pharmaceuticals, Inc. will post -2.5 EPS for the current year.
A number of equities analysts have recently issued reports on MNTA shares. BidaskClub upgraded Momenta Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday. Zacks Investment Research downgraded Momenta Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th. ValuEngine upgraded Momenta Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Finally, 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. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $22.23.
About Momenta Pharmaceuticals
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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