IndexIQ Advisors LLC bought a new position in shares of Clementia Pharmaceuticals Inc (NASDAQ:CMTA) during the 1st quarter, HoldingsChannel reports. The fund bought 280,046 shares of the company’s stock, valued at approximately $7,309,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Northern Trust Corp lifted its stake in shares of Clementia Pharmaceuticals by 16.8% in the fourth quarter. Northern Trust Corp now owns 16,211 shares of the company’s stock valued at $191,000 after buying an additional 2,335 shares in the last quarter. California Public Employees Retirement System bought a new position in shares of Clementia Pharmaceuticals in the first quarter valued at $252,000. Millennium Management LLC bought a new position in shares of Clementia Pharmaceuticals in the fourth quarter valued at $292,000. UBS Oconnor LLC bought a new position in shares of Clementia Pharmaceuticals in the fourth quarter valued at $463,000. Finally, Geode Capital Management LLC lifted its stake in shares of Clementia Pharmaceuticals by 90.6% in the fourth quarter. Geode Capital Management LLC now owns 40,638 shares of the company’s stock valued at $477,000 after buying an additional 19,317 shares in the last quarter. 78.72% of the stock is currently owned by institutional investors and hedge funds.

CMTA opened at $26.35 on Wednesday. Clementia Pharmaceuticals Inc has a fifty-two week low of $8.10 and a fifty-two week high of $26.73. The stock has a market cap of $1.00 billion, a P/E ratio of -3.32 and a beta of 0.64.

A number of research analysts have weighed in on CMTA shares. Zacks Investment Research raised shares of Clementia Pharmaceuticals from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a research note on Friday, March 1st. ValuEngine raised shares of Clementia Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Monday, February 25th. Bloom Burton lowered shares of Clementia Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, February 26th. Svb Leerink lowered shares of Clementia Pharmaceuticals from an “outperform” rating to a “market perform” rating and set a $26.00 price objective on the stock. in a research note on Tuesday, February 26th. Finally, Wedbush lowered shares of Clementia Pharmaceuticals from an “outperform” rating to a “neutral” rating in a research note on Monday, February 25th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. Clementia Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $25.00.

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Clementia Pharmaceuticals Company Profile

Clementia Pharmaceuticals Inc, a clinical stage biopharmaceutical company, develops treatments for patients suffering from bone disorders and other diseases. Its lead product candidate is palovarotene, an oral small molecule for the treatment of fibrodysplasia ossificans progressive, multiple osteochondromas, dry eye disease, and other diseases is in the Phase 3 MOVE Trial.

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Institutional Ownership by Quarter for Clementia Pharmaceuticals (NASDAQ:CMTA)

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