Trading Report: Today, Louisiana State Employees Retirement System cuts position of Momenta Pharmaceuticals Inc. (MNTA)

Today, Louisiana State Employees Retirement System cuts position of Momenta Pharmaceuticals Inc. (MNTA)

Louisiana State Employees Retirement System decreased its stake in shares of Momenta Pharmaceuticals Inc. (NASDAQ:MNTA) by 1.4% during the third quarter, according to its most recent filing with the SEC. The fund owned 27,600 shares of the biotechnology company’s stock after selling 400 shares during the period. Louisiana State Employees Retirement System’s holdings in Momenta Pharmaceuticals were worth $323,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the stock. BlackRock Group LTD boosted its stake in Momenta Pharmaceuticals by 11.9% in the first quarter. BlackRock Group LTD now owns 107,038 shares of the biotechnology company’s stock worth $989,000 after buying an additional 11,403 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Momenta Pharmaceuticals during the first quarter worth approximately $628,000. A.R.T. Advisors LLC boosted its stake in Momenta Pharmaceuticals by 44.3% in the first quarter. A.R.T. Advisors LLC now owns 76,558 shares of the biotechnology company’s stock worth $707,000 after buying an additional 23,500 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in Momenta Pharmaceuticals by 115.4% in the second quarter. BNP Paribas Arbitrage SA now owns 19,816 shares of the biotechnology company’s stock worth $214,000 after buying an additional 10,617 shares during the last quarter. Finally, Capstone Asset Management Co. boosted its stake in Momenta Pharmaceuticals by 3.6% in the second quarter. Capstone Asset Management Co. now owns 18,183 shares of the biotechnology company’s stock worth $196,000 after buying an additional 630 shares during the last quarter. Institutional investors and hedge funds own 81.62% of the company’s stock.

Momenta Pharmaceuticals Inc. (NASDAQ:MNTA) traded up 0.35% on Friday, reaching $14.15. The company’s stock had a trading volume of 266,283 shares. The stock’s market cap is $975.74 million. Momenta Pharmaceuticals Inc. has a one year low of $7.86 and a one year high of $18.26. The stock has a 50-day moving average of $12.36 and a 200-day moving average of $11.67.

Momenta Pharmaceuticals (NASDAQ:MNTA) last posted its quarterly earnings data on Wednesday, November 2nd. The biotechnology company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.03. Momenta Pharmaceuticals had a negative return on equity of 26.55% and a negative net margin of 93.75%. The firm had revenue of $299.14 million for the quarter, compared to the consensus estimate of $25.68 million. During the same quarter last year, the company earned ($0.44) earnings per share. The business’s revenue for the quarter was up 2067.7% compared to the same quarter last year. On average, analysts predict that Momenta Pharmaceuticals Inc. will post ($1.16) EPS for the current fiscal year.

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. lowered their target price on Momenta Pharmaceuticals from $21.00 to $15.00 and set an “overweight” rating on the stock in a research note on Friday, August 5th. Barclays PLC reiterated a “buy” rating and set a $19.00 target price on shares of Momenta Pharmaceuticals in a research note on Thursday, November 3rd. Cowen and Company reiterated a “hold” rating on shares of Momenta Pharmaceuticals in a research note on Sunday, August 7th. Zacks Investment Research cut Momenta Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, November 10th. Finally, Maxim Group reiterated a “sell” rating and set a $6.00 target price on shares of Momenta Pharmaceuticals in a research note on Thursday, November 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $16.10.

In other news, President Craig A. Wheeler sold 5,880 shares of the firm’s stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $13.68, for a total value of $80,438.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 6.10% of the stock is owned by insiders.

About Momenta Pharmaceuticals

Momenta Pharmaceuticals, Inc is a biotechnology company. The Company is focused on developing generic versions of drugs, biosimilars and therapeutics for oncology and autoimmune disease. It focuses on three product areas: Complex Generics, Biosimilars and Novel Therapeutics. It has developed generic version of Lovenox (enoxaparin sodium injection).

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