Momenta Pharmaceuticals (NASDAQ:MNTA) Sees Unusually-High Trading Volume

Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) shares saw unusually-high trading volume on Thursday . Approximately 1,320,157 shares changed hands during trading, an increase of 141% from the previous session’s volume of 547,960 shares.The stock last traded at $12.36 and had previously closed at $11.91.

MNTA has been the topic of a number of recent analyst reports. BTIG Research initiated coverage on shares of Momenta Pharmaceuticals in a report on Monday, March 18th. They set a “neutral” rating and a $14.15 target price on the stock. BidaskClub downgraded shares of Momenta Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. Zacks Investment Research downgraded shares of Momenta Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, March 5th. Finally, Cantor Fitzgerald set a $16.00 target price on shares of Momenta Pharmaceuticals and gave the stock a “hold” rating in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. Momenta Pharmaceuticals currently has an average rating of “Hold” and an average price target of $22.23.

The business has a 50-day simple moving average of $12.48.

Momenta Pharmaceuticals (NASDAQ:MNTA) last released its quarterly earnings data on Thursday, May 2nd. The biotechnology company reported ($0.46) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.45) by ($0.01). Momenta Pharmaceuticals had a negative return on equity of 43.98% and a negative net margin of 231.49%. The company had revenue of $4.11 million for the quarter, compared to the consensus estimate of $10.12 million. During the same period last year, the firm earned ($0.63) earnings per share. The company’s revenue for the quarter was down 15.3% compared to the same quarter last year. On average, research analysts anticipate that Momenta Pharmaceuticals, Inc. will post -1.79 EPS for the current fiscal year.

In other Momenta Pharmaceuticals news, SVP Santiago Arroyo sold 8,119 shares of Momenta Pharmaceuticals stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $15.00, for a total transaction of $121,785.00. Following the completion of the transaction, the senior vice president now directly owns 39,803 shares of the company’s stock, valued at $597,045. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jo Ann Beltramello sold 13,672 shares of Momenta Pharmaceuticals stock in a transaction on Monday, April 29th. The stock was sold at an average price of $15.00, for a total transaction of $205,080.00. Following the transaction, the insider now directly owns 68,494 shares of the company’s stock, valued at $1,027,410. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 76,066 shares of company stock valued at $1,053,171. Company insiders own 3.40% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. FMR LLC boosted its position in shares of Momenta Pharmaceuticals by 25.7% in the fourth quarter. FMR LLC now owns 14,770,728 shares of the biotechnology company’s stock valued at $163,069,000 after acquiring an additional 3,023,513 shares during the period. Perceptive Advisors LLC boosted its position in shares of Momenta Pharmaceuticals by 11,435.8% in the fourth quarter. Perceptive Advisors LLC now owns 2,825,000 shares of the biotechnology company’s stock valued at $31,132,000 after acquiring an additional 2,800,511 shares during the period. Norges Bank bought a new stake in shares of Momenta Pharmaceuticals in the fourth quarter valued at about $19,673,000. BlackRock Inc. boosted its position in shares of Momenta Pharmaceuticals by 14.0% in the fourth quarter. BlackRock Inc. now owns 13,775,141 shares of the biotechnology company’s stock valued at $152,079,000 after acquiring an additional 1,694,797 shares during the period. Finally, RA Capital Management LLC boosted its position in shares of Momenta Pharmaceuticals by 64.2% in the fourth quarter. RA Capital Management LLC now owns 2,558,357 shares of the biotechnology company’s stock valued at $28,244,000 after acquiring an additional 1,000,000 shares during the period. 97.43% of the stock is owned by hedge funds and other institutional investors.

About Momenta Pharmaceuticals (NASDAQ:MNTA)

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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