Trading Report: The ClariVest Asset Management LLC Acquires 4,400 Shares of Momenta Pharmaceuticals Inc. (MNTA)

The ClariVest Asset Management LLC Acquires 4,400 Shares of Momenta Pharmaceuticals Inc. (MNTA)

ClariVest Asset Management LLC raised its stake in shares of Momenta Pharmaceuticals Inc. (NASDAQ:MNTA) by 15.6% during the second quarter, Holdings Channel reports. The firm owned 32,613 shares of the biotechnology company’s stock after buying an additional 4,400 shares during the period. ClariVest Asset Management LLC’s holdings in Momenta Pharmaceuticals were worth $353,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Teachers Advisors Inc. increased its stake in shares of Momenta Pharmaceuticals by 16.7% in the first quarter. Teachers Advisors Inc. now owns 346,507 shares of the biotechnology company’s stock valued at $3,202,000 after buying an additional 49,480 shares during the period. Prudential Financial Inc. increased its stake 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 valued at $1,359,000 after buying an additional 2,700 shares during the period. BlackRock Group LTD increased its stake in shares of Momenta Pharmaceuticals by 11.9% in the first quarter. BlackRock Group LTD now owns 107,038 shares of the biotechnology company’s stock valued at $989,000 after buying an additional 11,403 shares during the period. BlackRock Fund Advisors increased its stake 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 valued at $43,542,000 after buying an additional 39,777 shares during the period. Finally, JPMorgan Chase & Co. increased its stake 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 valued at $3,528,000 after buying an additional 156,725 shares during the period. 81.09% of the stock is currently owned by institutional investors.

Shares of Momenta Pharmaceuticals Inc. (NASDAQ:MNTA) traded down 1.08% during trading on Monday, reaching $11.92. 300,868 shares of the company traded hands. Momenta Pharmaceuticals Inc. has a 12 month low of $7.86 and a 12 month high of $18.85. The firm has a 50-day moving average price of $11.91 and a 200-day moving average price of $11.12. The firm’s market capitalization is $817.68 million.

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

Several analysts have issued reports on MNTA shares. Brean Capital set a $19.00 price target on shares of Momenta Pharmaceuticals and gave the company a “buy” rating in a report on Friday, August 5th. JPMorgan Chase & Co. cut their price objective on shares of Momenta Pharmaceuticals from $21.00 to $15.00 and set an “overweight” rating for the company in a research report on Friday, August 5th. Cowen and Company reissued a “hold” rating on shares of Momenta Pharmaceuticals in a research report on Sunday, August 7th. Maxim Group lowered shares of Momenta Pharmaceuticals from a “hold” rating to a “sell” rating and set a $6.00 price objective for the company. in a research report on Wednesday, September 7th. Finally, Zacks Investment Research raised shares of Momenta Pharmaceuticals from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research report on Tuesday, October 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $15.78.

In other news, President Craig A. Wheeler sold 5,880 shares of the firm’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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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