Water Island Capital LLC bought a new stake in Clementia Pharmaceuticals Inc (NASDAQ:CMTA) in the first quarter, Holdings Channel reports. The institutional investor bought 383,907 shares of the company’s stock, valued at approximately $10,020,000.

Other large investors have also recently bought and sold shares of the company. UBS Oconnor LLC bought a new position in Clementia Pharmaceuticals in the 4th quarter worth approximately $463,000. Fosun International Ltd bought a new position in Clementia Pharmaceuticals in the 4th quarter worth approximately $2,627,000. Perceptive Advisors LLC bought a new position in Clementia Pharmaceuticals in the 4th quarter worth approximately $17,640,000. Opaleye Management Inc. raised its position in Clementia Pharmaceuticals by 0.8% in the 4th quarter. Opaleye Management Inc. now owns 150,000 shares of the company’s stock worth $1,764,000 after purchasing an additional 1,168 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Clementia Pharmaceuticals by 17.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,037,047 shares of the company’s stock worth $11,563,000 after purchasing an additional 155,336 shares during the last quarter. Institutional investors own 78.72% of the company’s stock.

CMTA remained flat at $$26.35 during trading on Wednesday. 716,706 shares of the company’s stock were exchanged, compared to its average volume of 145,059. Clementia Pharmaceuticals Inc has a 12-month low of $8.10 and a 12-month high of $26.73. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of -3.32 and a beta of 0.64.

Several research firms recently weighed in on CMTA. Zacks Investment Research cut shares of Clementia Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, February 12th. Robert W. Baird cut shares of Clementia Pharmaceuticals from an “outperform” rating to a “neutral” rating and set a $27.00 price objective for the company. in a research report on Monday, March 4th. Bloom Burton cut shares of Clementia Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, February 26th. ValuEngine raised shares of Clementia Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Monday, February 25th. Finally, Svb Leerink lowered shares of Clementia Pharmaceuticals from an “outperform” rating to a “market perform” rating and set a $26.00 target price for the company. in a report on Tuesday, February 26th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $25.00.

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About Clementia Pharmaceuticals

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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