Palo Alto Investors LP Has $33.22 Million Position in Momenta Pharmaceuticals, Inc. (MNTA)

Palo Alto Investors LP boosted its position in Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) by 0.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,830,435 shares of the biotechnology company’s stock after purchasing an additional 8,859 shares during the quarter. Momenta Pharmaceuticals comprises about 1.4% of Palo Alto Investors LP’s holdings, making the stock its 21st largest position. Palo Alto Investors LP owned 2.36% of Momenta Pharmaceuticals worth $33,222,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in MNTA. Tocqueville Asset Management L.P. raised its stake in Momenta Pharmaceuticals by 243.6% in the 4th quarter. Tocqueville Asset Management L.P. now owns 963,784 shares of the biotechnology company’s stock valued at $13,445,000 after purchasing an additional 683,296 shares during the last quarter. VHCP Management II LLC acquired a new position in Momenta Pharmaceuticals in the 1st quarter valued at about $7,714,000. Rock Springs Capital Management LP acquired a new position in Momenta Pharmaceuticals in the 1st quarter valued at about $6,262,000. BlackRock Inc. raised its stake in Momenta Pharmaceuticals by 2.7% in the 1st quarter. BlackRock Inc. now owns 10,755,588 shares of the biotechnology company’s stock valued at $195,213,000 after purchasing an additional 282,272 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in Momenta Pharmaceuticals by 9.3% in the 4th quarter. Renaissance Technologies LLC now owns 1,583,000 shares of the biotechnology company’s stock valued at $22,083,000 after purchasing an additional 134,500 shares during the last quarter. 94.82% of the stock is owned by hedge funds and other institutional investors.

NASDAQ MNTA opened at $23.20 on Thursday. Momenta Pharmaceuticals, Inc. has a 12 month low of $11.85 and a 12 month high of $24.90. The stock has a market cap of $1.87 billion, a PE ratio of -19.33 and a beta of 1.65.

Momenta Pharmaceuticals (NASDAQ:MNTA) last posted its quarterly earnings data on Tuesday, May 8th. The biotechnology company reported ($0.63) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.44) by ($0.19). Momenta Pharmaceuticals had a negative net margin of 88.77% and a negative return on equity of 28.56%. The company had revenue of $4.85 million for the quarter, compared to analyst estimates of $15.63 million. During the same period in the prior year, the company earned ($0.46) EPS. The company’s revenue was down 81.8% compared to the same quarter last year. sell-side analysts forecast that Momenta Pharmaceuticals, Inc. will post -1.56 earnings per share for the current year.

In other news, Director Elizabeth Stoner sold 3,399 shares of the business’s stock in a transaction dated Tuesday, April 10th. The stock was sold at an average price of $19.00, for a total transaction of $64,581.00. Following the completion of the sale, the director now owns 22,777 shares in the company, valued at approximately $432,763. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Young Kwon sold 15,089 shares of the business’s stock in a transaction dated Thursday, April 19th. The stock was sold at an average price of $20.90, for a total value of $315,360.10. Following the sale, the senior vice president now owns 147,411 shares of the company’s stock, valued at approximately $3,080,889.90. The disclosure for this sale can be found here. Insiders have sold a total of 204,353 shares of company stock valued at $4,249,341 in the last quarter. Company insiders own 4.80% of the company’s stock.

A number of research firms have recently commented on MNTA. ValuEngine raised shares of Momenta Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 2nd. Cantor Fitzgerald began coverage on shares of Momenta Pharmaceuticals in a research note on Monday. They set a “hold” rating and a $24.00 price objective for the company. Zacks Investment Research downgraded shares of Momenta Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Monday, May 21st. TheStreet downgraded shares of Momenta Pharmaceuticals from a “c-” rating to a “d” rating in a research note on Tuesday, May 8th. Finally, BidaskClub raised shares of Momenta Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company’s stock. Momenta Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $16.11.

Momenta Pharmaceuticals Profile

Momenta Pharmaceuticals, Inc, a biotechnology company, focuses on developing generic versions of complex drugs, biosimilars, and novel therapeutics for autoimmune diseases in the United States. The company's complex generics programs include Enoxaparin sodium injection, a generic version of Lovenox that is indicated for the prevention and treatment of deep vein thrombosis, as well as supports the treatment of acute coronary syndromes; GLATOPA, a generic version of once-daily COPAXONE for the treatment of patients with relapsing-remitting multiple sclerosis; and GLATOPA, a generic product candidate for three-times-weekly COPAXONE.

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

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