State of Tennessee Treasury Department Purchases 6,169 Shares of Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA)

State of Tennessee Treasury Department lifted its position in Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) by 9.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 71,810 shares of the biotechnology company’s stock after acquiring an additional 6,169 shares during the period. State of Tennessee Treasury Department’s holdings in Momenta Pharmaceuticals were worth $931,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MNTA. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Momenta Pharmaceuticals by 68.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,625 shares of the biotechnology company’s stock valued at $95,000 after buying an additional 3,088 shares in the last quarter. Algert Global LLC bought a new stake in Momenta Pharmaceuticals during the 2nd quarter valued at about $143,000. Bank of Montreal Can lifted its holdings in Momenta Pharmaceuticals by 298.3% during the 2nd quarter. Bank of Montreal Can now owns 11,771 shares of the biotechnology company’s stock valued at $146,000 after buying an additional 8,816 shares in the last quarter. CWM Advisors LLC lifted its holdings in Momenta Pharmaceuticals by 17.2% during the 2nd quarter. CWM Advisors LLC now owns 13,780 shares of the biotechnology company’s stock valued at $172,000 after buying an additional 2,020 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC bought a new stake in Momenta Pharmaceuticals during the 2nd quarter valued at about $187,000. Hedge funds and other institutional investors own 96.11% of the company’s stock.

NASDAQ:MNTA opened at $16.46 on Thursday. Momenta Pharmaceuticals, Inc. has a one year low of $9.51 and a one year high of $16.90. The firm has a 50-day simple moving average of $14.36 and a 200-day simple moving average of $12.86.

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

In other news, SVP Santiago Arroyo sold 6,318 shares of Momenta Pharmaceuticals stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $13.83, for a total value of $87,377.94. Following the transaction, the senior vice president now owns 33,272 shares of the company’s stock, valued at approximately $460,151.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Anthony M. Manning sold 6,365 shares of Momenta Pharmaceuticals stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $13.83, for a total transaction of $88,027.95. Following the completion of the transaction, the insider now directly owns 20,603 shares in the company, valued at approximately $284,939.49. The disclosure for this sale can be found here. In the last 90 days, insiders sold 77,262 shares of company stock valued at $1,172,492. Company insiders own 3.40% of the company’s stock.

A number of brokerages recently weighed in on MNTA. BidaskClub upgraded shares of Momenta Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 31st. Stifel Nicolaus restated a “buy” rating and issued a $29.00 price target on shares of Momenta Pharmaceuticals in a report on Thursday, October 24th. HC Wainwright initiated coverage on shares of Momenta Pharmaceuticals in a report on Wednesday, September 25th. They issued a “buy” rating and a $24.00 price target for the company. Piper Jaffray Companies set a $35.00 price target on shares of Momenta Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, September 17th. Finally, Wells Fargo & Co initiated coverage on shares of Momenta Pharmaceuticals in a report on Wednesday, November 6th. They issued an “outperform” rating for the company. Four research 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 company. The stock has a consensus 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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Institutional Ownership by Quarter for Momenta Pharmaceuticals (NASDAQ:MNTA)

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