Nuveen Asset Management LLC Buys New Holdings in Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA)

Nuveen Asset Management LLC bought a new stake in Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 381,624 shares of the biotechnology company’s stock, valued at approximately $4,751,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its stake in shares of Momenta Pharmaceuticals by 2.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 572,669 shares of the biotechnology company’s stock valued at $7,130,000 after purchasing an additional 14,274 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in Momenta Pharmaceuticals by 43.8% in the second quarter. DekaBank Deutsche Girozentrale now owns 64,000 shares of the biotechnology company’s stock valued at $791,000 after acquiring an additional 19,490 shares during the period. Fosun International Ltd bought a new stake in Momenta Pharmaceuticals in the second quarter valued at $1,130,000. Atria Investments LLC bought a new stake in Momenta Pharmaceuticals in the second quarter valued at $1,518,000. Finally, Greencape Capital Pty Ltd bought a new stake in Momenta Pharmaceuticals in the second quarter valued at $3,365,000. Institutional investors and hedge funds own 96.29% of the company’s stock.

Shares of MNTA opened at $14.40 on Friday. Momenta Pharmaceuticals, Inc. has a 12-month low of $9.51 and a 12-month high of $16.11. The stock’s fifty day simple moving average is $13.28 and its 200-day simple moving average is $12.72.

Momenta Pharmaceuticals (NASDAQ:MNTA) last issued its quarterly earnings results on Friday, August 2nd. The biotechnology company reported ($1.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.74). Momenta Pharmaceuticals had a negative net margin of 324.41% and a negative return on equity of 55.24%. The firm had revenue of $5.18 million for the quarter, compared to analyst estimates of $9.20 million. During the same period last year, the company earned ($0.91) EPS. The company’s revenue was down 60.2% compared to the same quarter last year. Research analysts anticipate that Momenta Pharmaceuticals, Inc. will post -2.52 EPS for the current fiscal year.

In other news, CEO Craig A. Wheeler sold 2,601 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $11.72, for a total transaction of $30,483.72. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold 6,530 shares of company stock worth $78,048 in the last ninety days. 3.40% of the stock is currently owned by insiders.

Several analysts have recently commented on MNTA shares. ValuEngine cut Momenta Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Piper Jaffray Companies set a $35.00 price target on Momenta Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, September 17th. BidaskClub raised Momenta Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Finally, HC Wainwright began coverage on Momenta Pharmaceuticals in a research note on Wednesday, September 25th. They set a “buy” rating and a $24.00 price target on the stock. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $22.53.

Momenta Pharmaceuticals Profile

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.

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Institutional Ownership by Quarter for Momenta Pharmaceuticals (NASDAQ:MNTA)

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