Grisanti Capital Management LLC Takes Position in Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA)

Grisanti Capital Management LLC bought a new position in shares of Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) during the second quarter, Holdings Channel reports. The fund bought 20,800 shares of the biotechnology company’s stock, valued at approximately $351,000.

A number of other hedge funds have also bought and sold shares of the stock. Dynamic Technology Lab Private Ltd acquired a new stake in Momenta Pharmaceuticals during the first quarter worth about $158,000. BNP Paribas Arbitrage SA boosted its stake in Momenta Pharmaceuticals by 13.3% in the first quarter. BNP Paribas Arbitrage SA now owns 13,393 shares of the biotechnology company’s stock worth $179,000 after buying an additional 1,570 shares during the period. Envestnet Asset Management Inc. boosted its stake in Momenta Pharmaceuticals by 3.0% in the first quarter. Envestnet Asset Management Inc. now owns 14,275 shares of the biotechnology company’s stock worth $191,000 after buying an additional 411 shares during the period. Municipal Employees Retirement System of Michigan boosted its stake in Momenta Pharmaceuticals by 2.2% in the first quarter. Municipal Employees Retirement System of Michigan now owns 14,600 shares of the biotechnology company’s stock worth $195,000 after buying an additional 310 shares during the period. Finally, Mason Street Advisors LLC boosted its stake in Momenta Pharmaceuticals by 8.3% in the first quarter. Mason Street Advisors LLC now owns 15,122 shares of the biotechnology company’s stock worth $202,000 after buying an additional 1,154 shares during the period. Hedge funds and other institutional investors own 86.89% of the company’s stock.

Momenta Pharmaceuticals, Inc. (MNTA) opened at 15.90 on Friday. The company’s market cap is $1.18 billion. The stock has a 50 day moving average of $16.80 and a 200-day moving average of $15.69. Momenta Pharmaceuticals, Inc. has a 52-week low of $10.66 and a 52-week high of $19.90.

Momenta Pharmaceuticals (NASDAQ:MNTA) last released its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.50) EPS for the quarter, meeting the consensus estimate of ($0.50). The company had revenue of $23.57 million during the quarter, compared to the consensus estimate of $24.64 million. Momenta Pharmaceuticals had a negative return on equity of 12.28% and a negative net margin of 39.35%. The firm’s revenue for the quarter was down 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.31) EPS. On average, analysts forecast that Momenta Pharmaceuticals, Inc. will post ($1.20) EPS for the current year.

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MNTA has been the subject of a number of analyst reports. Stifel Nicolaus reiterated a “buy” rating and issued a $26.00 target price on shares of Momenta Pharmaceuticals in a research note on Thursday, August 3rd. BidaskClub upgraded shares of Momenta Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. Barclays PLC cut shares of Momenta Pharmaceuticals from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $20.00 to $17.00 in a research note on Monday, May 22nd. Cowen and Company reiterated a “hold” rating and issued a $15.00 target price on shares of Momenta Pharmaceuticals in a research note on Wednesday, May 3rd. Finally, Aegis reiterated a “hold” rating and issued a $17.00 target price on shares of Momenta Pharmaceuticals in a research note on Wednesday, May 3rd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. Momenta Pharmaceuticals currently has a consensus rating of “Hold” and an average target price of $16.63.

In other news, President Craig A. Wheeler sold 4,116 shares of the stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $15.83, for a total value of $65,156.28. Following the completion of the sale, the president now owns 281,919 shares of the company’s stock, valued at approximately $4,462,777.77. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders sold 5,996 shares of company stock valued at $94,323. 4.40% of the stock is currently owned by insiders.

Momenta Pharmaceuticals Company Profile

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. The Company has developed generic version of LOVENOX (enoxaparin sodium injection) and COPAXONE (glatiramer acetate injection).

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

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