Arizona State Retirement System decreased its position in shares of Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) by 6.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 112,906 shares of the biotechnology company’s stock after selling 8,382 shares during the quarter. Arizona State Retirement System owned approximately 0.15% of Momenta Pharmaceuticals worth $2,309,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MNTA. Rhumbline Advisers boosted its holdings in shares of Momenta Pharmaceuticals by 4.5% during the 1st quarter. Rhumbline Advisers now owns 183,044 shares of the biotechnology company’s stock valued at $3,322,000 after acquiring an additional 7,842 shares in the last quarter. Dupont Capital Management Corp acquired a new stake in shares of Momenta Pharmaceuticals during the 1st quarter valued at $308,000. Comerica Bank boosted its holdings in shares of Momenta Pharmaceuticals by 3.2% during the 1st quarter. Comerica Bank now owns 80,758 shares of the biotechnology company’s stock valued at $1,651,000 after acquiring an additional 2,496 shares in the last quarter. Mackay Shields LLC acquired a new stake in shares of Momenta Pharmaceuticals during the 1st quarter valued at $618,000. Finally, American Century Companies Inc. acquired a new stake in shares of Momenta Pharmaceuticals during the 1st quarter valued at $1,589,000. 96.47% of the stock is currently owned by institutional investors.

Several equities research analysts recently weighed in on the company. Zacks Investment Research raised Momenta Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, August 1st. BidaskClub raised Momenta Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 14th. Cantor Fitzgerald set a $24.00 price objective on Momenta Pharmaceuticals and gave the company a “hold” rating in a report on Thursday, August 9th. ValuEngine raised Momenta Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 2nd. Finally, TheStreet downgraded Momenta Pharmaceuticals from a “c-” rating to a “d” rating in a report on Tuesday, May 8th. Seven research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $17.38.

Shares of NASDAQ:MNTA opened at $25.95 on Wednesday. The firm has a market cap of $2.08 billion, a P/E ratio of -21.63 and a beta of 1.74. Momenta Pharmaceuticals, Inc. has a 12-month low of $11.85 and a 12-month high of $32.20.

Momenta Pharmaceuticals (NASDAQ:MNTA) last announced its earnings results on Thursday, August 9th. The biotechnology company reported ($0.91) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.41) by ($0.50). The company had revenue of $13.00 million for the quarter, compared to the consensus estimate of $15.83 million. Momenta Pharmaceuticals had a negative return on equity of 40.55% and a negative net margin of 128.49%. The firm’s revenue for the quarter was down 44.9% on a year-over-year basis. During the same period in the prior year, the business earned ($0.50) earnings per share. equities research analysts anticipate that Momenta Pharmaceuticals, Inc. will post -2.06 earnings per share for the current year.

In related news, Director Elizabeth Stoner sold 2,288 shares of the firm’s stock in a transaction on Thursday, June 21st. The stock was sold at an average price of $22.20, for a total transaction of $50,793.60. Following the completion of the transaction, the director now directly owns 28,541 shares of the company’s stock, valued at approximately $633,610.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Santiago Arroyo sold 2,665 shares of the firm’s stock in a transaction on Thursday, June 21st. The stock was sold at an average price of $22.20, for a total value of $59,163.00. Following the transaction, the senior vice president now directly owns 33,335 shares of the company’s stock, valued at $740,037. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 103,667 shares of company stock valued at $2,772,663. 4.80% of the stock is owned by corporate insiders.

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.

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

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