Trade Report: The California Public Employees Retirement System Reduced the position of Momenta Pharmaceuticals Inc. (MNTA)

The California Public Employees Retirement System Reduced the position of Momenta Pharmaceuticals Inc. (MNTA)

California Public Employees Retirement System reduced its position in shares of Momenta Pharmaceuticals Inc. (NASDAQ:MNTA) by 3.0% during the second quarter, Holdings Channel reports. The firm owned 152,900 shares of the biotechnology company’s stock after selling 4,800 shares during the period. California Public Employees Retirement System owned 0.22% of Momenta Pharmaceuticals worth $1,651,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Fund Advisors increased its position in shares of Momenta Pharmaceuticals by 0.9% in the first quarter. BlackRock Fund Advisors now owns 4,712,349 shares of the biotechnology company’s stock worth $43,542,000 after buying an additional 39,777 shares in the last quarter. AXA bought a new position in shares of Momenta Pharmaceuticals during the first quarter worth $627,000. JPMorgan Chase & Co. increased its position in shares of Momenta Pharmaceuticals by 69.6% in the first quarter. JPMorgan Chase & Co. now owns 381,875 shares of the biotechnology company’s stock worth $3,528,000 after buying an additional 156,725 shares in the last quarter. Prudential Financial Inc. increased its position in shares of Momenta Pharmaceuticals by 1.9% in the first quarter. Prudential Financial Inc. now owns 147,062 shares of the biotechnology company’s stock worth $1,359,000 after buying an additional 2,700 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 81.08% of the company’s stock.

Shares of Momenta Pharmaceuticals Inc. (NASDAQ:MNTA) traded up 1.711% on Friday, reaching $11.595. 325,802 shares of the company were exchanged. The company’s 50-day moving average price is $11.93 and its 200 day moving average price is $10.95. Momenta Pharmaceuticals Inc. has a 12 month low of $7.86 and a 12 month high of $18.85. The company’s market cap is $795.38 million.

Momenta Pharmaceuticals (NASDAQ:MNTA) last announced its quarterly earnings data on Thursday, August 4th. The biotechnology company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.01. The firm had revenue of $26.40 million for the quarter, compared to the consensus estimate of $23.55 million. Momenta Pharmaceuticals had a negative net margin of 126.37% and a negative return on equity of 28.76%. The business’s revenue for the quarter was down 41.2% on a year-over-year basis. During the same period in the prior year, the company posted ($0.04) earnings per share. On average, equities research analysts expect that Momenta Pharmaceuticals Inc. will post ($1.25) EPS for the current year.

A number of equities analysts have weighed in on MNTA shares. Zacks Investment Research raised shares of Momenta Pharmaceuticals from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research note on Tuesday, October 4th. JPMorgan Chase & Co. dropped their target price on shares of Momenta Pharmaceuticals from $21.00 to $15.00 and set an “overweight” rating for the company in a research note on Friday, August 5th. Brean Capital set a $19.00 target price on shares of Momenta Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, August 5th. Cowen and Company reaffirmed a “hold” rating on shares of Momenta Pharmaceuticals in a research note on Sunday, August 7th. Finally, Maxim Group downgraded shares of Momenta Pharmaceuticals from a “hold” rating to a “sell” rating and set a $6.00 target price for the company. in a research note on Wednesday, September 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $16.00.

In other Momenta Pharmaceuticals news, President Craig A. Wheeler sold 5,880 shares of the stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $12.02, for a total transaction of $70,677.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 6.10% of the company’s stock.

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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