9 Meters Biopharma, Inc. (NASDAQ:NMTR) CFO Edward J. Sitar Purchases 15,000 Shares

9 Meters Biopharma, Inc. (NASDAQ:NMTR) CFO Edward J. Sitar bought 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 14th. The shares were purchased at an average cost of $1.22 per share, with a total value of $18,300.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link.

Shares of 9 Meters Biopharma stock traded up $0.02 on Wednesday, reaching $1.23. 2,846 shares of the stock were exchanged, compared to its average volume of 6,566,436. The business has a 50 day moving average price of $1.16 and a two-hundred day moving average price of $1.25. The firm has a market capitalization of $312.07 million, a price-to-earnings ratio of -2.09 and a beta of -0.11. 9 Meters Biopharma, Inc. has a twelve month low of $0.63 and a twelve month high of $2.26.

9 Meters Biopharma (NASDAQ:NMTR) last posted its quarterly earnings results on Wednesday, August 11th. The company reported ($0.03) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.03). On average, research analysts predict that 9 Meters Biopharma, Inc. will post -0.14 earnings per share for the current fiscal year.

A number of analysts have recently weighed in on the company. Zacks Investment Research cut 9 Meters Biopharma from a “buy” rating to a “hold” rating in a research report on Tuesday, July 27th. BMO Capital Markets began coverage on 9 Meters Biopharma in a report on Thursday, July 8th. They issued an “outperform” rating and a $5.00 price target for the company. Citigroup started coverage on shares of 9 Meters Biopharma in a report on Friday, June 4th. They set a “buy” rating on the stock. Finally, assumed coverage on shares of 9 Meters Biopharma in a research note on Friday, June 4th. They issued a “buy” rating and a $3.00 target price for the company. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $4.18.

Several institutional investors have recently modified their holdings of the stock. Legal & General Group Plc purchased a new stake in 9 Meters Biopharma in the second quarter valued at $25,000. SG Americas Securities LLC purchased a new position in shares of 9 Meters Biopharma during the 2nd quarter valued at about $30,000. Advisor Group Holdings Inc. lifted its holdings in shares of 9 Meters Biopharma by 126.7% in the 2nd quarter. Advisor Group Holdings Inc. now owns 34,000 shares of the company’s stock valued at $38,000 after buying an additional 19,000 shares during the period. Alliancebernstein L.P. purchased a new stake in shares of 9 Meters Biopharma in the second quarter worth about $41,000. Finally, Amalgamated Bank acquired a new stake in 9 Meters Biopharma during the second quarter worth about $44,000. 29.22% of the stock is owned by hedge funds and other institutional investors.

9 Meters Biopharma Company Profile

9 Meters Biopharma, Inc is a clinical-stage biopharmaceutical company, which focuses on rare and unmet needs in gastroenterology. Its pipeline includes drug candidates for short bowel syndrome (SBS), celiac disease, and three early-stage candidates for undisclosed rare diseases and/or unmet needs. The company is founded by Jay P.

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