Citigroup Inc. increased its position in shares of Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) by 263.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,736 shares of the biotechnology company’s stock after buying an additional 9,954 shares during the quarter. Citigroup Inc.’s holdings in Momenta Pharmaceuticals were worth $232,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Tortoise Investment Management LLC acquired a new stake in Momenta Pharmaceuticals during the second quarter worth about $114,000. Pinebridge Investments L.P. grew its position in Momenta Pharmaceuticals by 4.3% during the second quarter. Pinebridge Investments L.P. now owns 8,798 shares of the biotechnology company’s stock worth $149,000 after buying an additional 363 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Momenta Pharmaceuticals by 3.0% during 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 in the last quarter. Municipal Employees Retirement System of Michigan grew its position in Momenta Pharmaceuticals by 2.2% during 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 in the last quarter. Finally, Mason Street Advisors LLC grew its position in Momenta Pharmaceuticals by 8.3% during 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 in the last quarter. 93.88% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus reissued a “buy” rating and set a $26.00 target price on shares of Momenta Pharmaceuticals in a research report on Thursday, August 3rd. Zacks Investment Research downgraded Momenta Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. J P Morgan Chase & Co reissued a “hold” rating and set a $14.00 target price on shares of Momenta Pharmaceuticals in a research report on Thursday, October 5th. BidaskClub downgraded Momenta Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. Finally, ValuEngine downgraded Momenta Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, October 6th. Three research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $15.00.

Shares of Momenta Pharmaceuticals, Inc. (MNTA) opened at 14.20 on Friday. Momenta Pharmaceuticals, Inc. has a 12-month low of $10.75 and a 12-month high of $19.90. The firm’s market capitalization is $1.05 billion. The firm’s 50-day moving average price is $16.05 and its 200-day moving average price is $15.78.

Momenta Pharmaceuticals (NASDAQ:MNTA) last announced its earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.50) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.50). Momenta Pharmaceuticals had a negative net margin of 39.35% and a negative return on equity of 12.28%. The company had revenue of $23.57 million for the quarter, compared to analysts’ expectations of $24.64 million. During the same period last year, the firm earned ($0.31) earnings per share. The business’s revenue for the quarter was down 10.8% on a year-over-year basis. Equities analysts predict that Momenta Pharmaceuticals, Inc. will post ($1.50) earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “Citigroup Inc. Purchases 9,954 Shares of Momenta Pharmaceuticals, Inc. (MNTA)” was originally reported by Watch List News and is the sole property of of Watch List News. If you are reading this article on another site, it was illegally copied and republished in violation of US and international copyright and trademark law. The correct version of this article can be viewed at https://www.watchlistnews.com/citigroup-inc-purchases-9954-shares-of-momenta-pharmaceuticals-inc-mnta/1642765.html.

In other news, President Craig A. Wheeler sold 35,667 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $19.03, for a total transaction of $678,743.01. Following the transaction, the president now directly owns 286,121 shares of the company’s stock, valued at $5,444,882.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Craig A. Wheeler sold 4,116 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $15.07, for a total transaction of $62,028.12. Following the transaction, the president now directly owns 269,231 shares in the company, valued at $4,057,311.17. The disclosure for this sale can be found here. Insiders have sold 79,663 shares of company stock worth $1,414,498 over the last ninety days. Insiders own 4.40% 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. The Company has developed generic version of LOVENOX (enoxaparin sodium injection) and COPAXONE (glatiramer acetate injection).

Want to see what other hedge funds are holding MNTA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA).

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

Receive News & Ratings for Momenta Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Momenta Pharmaceuticals Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.