Insider Selling: Momenta Pharmaceuticals, Inc. (MNTA) CEO Sells 2,778 Shares of Stock

Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) CEO Craig A. Wheeler sold 2,778 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $13.72, for a total transaction of $38,114.16. Following the sale, the chief executive officer now directly owns 23,330 shares of the company’s stock, valued at approximately $320,087.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of MNTA traded up $0.35 during mid-day trading on Wednesday, reaching $13.84. The stock had a trading volume of 271,700 shares, compared to its average volume of 570,655. Momenta Pharmaceuticals, Inc. has a 52-week low of $9.55 and a 52-week high of $32.20. The firm has a market capitalization of $1.36 billion, a P/E ratio of -6.82 and a beta of 2.17.

Momenta Pharmaceuticals (NASDAQ:MNTA) last announced its quarterly earnings data on Thursday, May 2nd. The biotechnology company reported ($0.46) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.45) by ($0.01). Momenta Pharmaceuticals had a negative net margin of 231.49% and a negative return on equity of 43.98%. The firm had revenue of $4.11 million during the quarter, compared to analysts’ expectations of $10.12 million. During the same period in the prior year, the company posted ($0.63) EPS. The company’s revenue for the quarter was down 15.3% compared to the same quarter last year. As a group, equities analysts anticipate that Momenta Pharmaceuticals, Inc. will post -1.68 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. MetLife Investment Advisors LLC lifted its position in Momenta Pharmaceuticals by 22.8% in the first quarter. MetLife Investment Advisors LLC now owns 43,796 shares of the biotechnology company’s stock valued at $636,000 after buying an additional 8,123 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Momenta Pharmaceuticals by 70.0% in the first quarter. Goldman Sachs Group Inc. now owns 514,005 shares of the biotechnology company’s stock valued at $7,468,000 after buying an additional 211,588 shares during the last quarter. Hsbc Holdings PLC acquired a new position in Momenta Pharmaceuticals in the first quarter valued at about $212,000. Voya Investment Management LLC lifted its position in Momenta Pharmaceuticals by 19.5% in the first quarter. Voya Investment Management LLC now owns 38,903 shares of the biotechnology company’s stock valued at $565,000 after buying an additional 6,359 shares during the last quarter. Finally, Pinebridge Investments L.P. lifted its position in Momenta Pharmaceuticals by 250.7% in the first quarter. Pinebridge Investments L.P. now owns 72,516 shares of the biotechnology company’s stock valued at $1,053,000 after buying an additional 51,841 shares during the last quarter. 96.79% of the stock is currently owned by institutional investors.

A number of equities research analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Momenta Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Monday, April 29th. BidaskClub raised shares of Momenta Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, March 29th. Cantor Fitzgerald set a $16.00 price objective on shares of Momenta Pharmaceuticals and gave the company a “hold” rating in a report on Thursday, May 2nd. Finally, BTIG Research assumed coverage on shares of Momenta Pharmaceuticals in a report on Monday, March 18th. They issued a “neutral” rating and a $14.15 price objective for the company. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $22.23.

WARNING: This news story was published by Slater Sentinel and is the sole property of of Slater Sentinel. If you are accessing this news story on another site, it was stolen and reposted in violation of U.S. & international copyright laws. The correct version of this news story can be read at https://slatersentinel.com/news/2019/05/16/insider-selling-momenta-pharmaceuticals-inc-mnta-ceo-sells-2778-shares-of-stock.html.

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.

See Also: Green Investing

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

Receive News & Ratings for Momenta Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Momenta Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.