Insider Selling: Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) CEO Sells 2,601 Shares of Stock

Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) CEO Craig A. Wheeler sold 2,601 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $16.16, for a total transaction of $42,032.16. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Shares of Momenta Pharmaceuticals stock traded up $0.45 on Tuesday, hitting $16.45. 871,694 shares of the company traded hands, compared to its average volume of 524,335. The stock has a market capitalization of $1.62 billion, a P/E ratio of -8.10 and a beta of 2.07. Momenta Pharmaceuticals, Inc. has a 52 week low of $9.51 and a 52 week high of $16.90. The business has a 50-day simple moving average of $14.24 and a 200 day simple moving average of $12.84.

Momenta Pharmaceuticals (NASDAQ:MNTA) last released its quarterly earnings data on Thursday, October 31st. The biotechnology company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.50) by ($0.09). The company had revenue of $6.40 million for the quarter, compared to the consensus estimate of $5.24 million. Momenta Pharmaceuticals had a negative net margin of 361.66% and a negative return on equity of 59.82%. The company’s quarterly revenue was down 57.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.65) EPS. As a group, research analysts anticipate that Momenta Pharmaceuticals, Inc. will post -2.59 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of MNTA. Oregon Public Employees Retirement Fund grew its holdings in shares of Momenta Pharmaceuticals by 5.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 39,254 shares of the biotechnology company’s stock valued at $489,000 after purchasing an additional 2,074 shares in the last quarter. CWM Advisors LLC grew its holdings in shares of Momenta Pharmaceuticals by 17.2% in the second quarter. CWM Advisors LLC now owns 13,780 shares of the biotechnology company’s stock valued at $172,000 after purchasing an additional 2,020 shares in the last quarter. Peregrine Capital Management LLC purchased a new position in shares of Momenta Pharmaceuticals in the second quarter valued at $10,025,000. Arizona State Retirement System grew its holdings in shares of Momenta Pharmaceuticals by 0.7% in the second quarter. Arizona State Retirement System now owns 152,967 shares of the biotechnology company’s stock valued at $1,904,000 after purchasing an additional 1,003 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC purchased a new position in shares of Momenta Pharmaceuticals in the second quarter valued at $187,000. 96.11% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently issued reports on the stock. SunTrust Banks assumed coverage on shares of Momenta Pharmaceuticals in a research report on Tuesday. They set a “buy” rating and a $29.00 price objective on the stock. Stifel Nicolaus reiterated a “buy” rating and set a $29.00 price objective on shares of Momenta Pharmaceuticals in a research report on Thursday, October 24th. BidaskClub upgraded shares of Momenta Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 31st. Wells Fargo & Co assumed coverage on shares of Momenta Pharmaceuticals in a research report on Wednesday, November 6th. They set an “outperform” rating on the stock. Finally, ValuEngine upgraded shares of Momenta Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $23.45.

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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Insider Buying and Selling by Quarter for Momenta Pharmaceuticals (NASDAQ:MNTA)

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