9 Meters Biopharma (NASDAQ:NMTR) Releases Quarterly Earnings Results

9 Meters Biopharma (NASDAQ:NMTRGet Rating) released its quarterly earnings data on Monday. The company reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04), Fidelity Earnings reports.

9 Meters Biopharma Stock Up 7.8 %

NMTR opened at $0.29 on Tuesday. 9 Meters Biopharma has a twelve month low of $0.20 and a twelve month high of $1.46. The company has a 50-day simple moving average of $0.32 and a 200 day simple moving average of $0.47. The stock has a market capitalization of $75.14 million, a price-to-earnings ratio of -1.81 and a beta of 0.44.

Analyst Upgrades and Downgrades

Several equities analysts have commented on NMTR shares. Maxim Group downgraded shares of 9 Meters Biopharma from a “buy” rating to a “hold” rating in a report on Friday, July 1st. BMO Capital Markets reduced their target price on shares of 9 Meters Biopharma from $5.00 to $3.00 and set an “outperform” rating for the company in a research report on Wednesday, June 22nd. Finally, Truist Financial reduced their target price on shares of 9 Meters Biopharma from $5.00 to $2.00 and set a “buy” rating for the company in a research report on Wednesday, June 22nd.

Insider Buying and Selling

In related news, Director Mark A. Sirgo bought 175,000 shares of the company’s stock in a transaction dated Friday, July 1st. The stock was purchased at an average price of $0.25 per share, with a total value of $43,750.00. Following the completion of the acquisition, the director now owns 1,454,045 shares of the company’s stock, valued at $363,511.25. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Mark A. Sirgo acquired 175,000 shares of the stock in a transaction dated Friday, July 1st. The stock was bought at an average price of $0.25 per share, with a total value of $43,750.00. Following the completion of the purchase, the director now directly owns 1,454,045 shares of the company’s stock, valued at approximately $363,511.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John Temperato acquired 125,000 shares of the stock in a transaction dated Wednesday, July 6th. The stock was purchased at an average cost of $0.23 per share, with a total value of $28,750.00. Following the purchase, the chief executive officer now directly owns 1,427,522 shares of the company’s stock, valued at $328,330.06. The disclosure for this purchase can be found here. 2.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. UBS Group AG increased its position in 9 Meters Biopharma by 301.3% during the 2nd quarter. UBS Group AG now owns 114,914 shares of the company’s stock valued at $30,000 after purchasing an additional 86,281 shares during the period. Virtu Financial LLC acquired a new stake in 9 Meters Biopharma during the 2nd quarter valued at approximately $47,000. Millennium Management LLC acquired a new stake in 9 Meters Biopharma during the 2nd quarter valued at approximately $483,000. Renaissance Technologies LLC acquired a new stake in shares of 9 Meters Biopharma during the 1st quarter worth approximately $1,347,000. Finally, State Street Corp grew its position in shares of 9 Meters Biopharma by 2.5% during the 1st quarter. State Street Corp now owns 3,829,916 shares of the company’s stock worth $2,295,000 after buying an additional 91,800 shares during the period. Institutional investors and hedge funds own 30.54% of the company’s stock.

About 9 Meters Biopharma

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9 Meters Biopharma, Inc, a clinical-stage biopharmaceutical company, focuses on treatments for people with rare digestive diseases, gastrointestinal conditions with unmet needs, and debilitating disorders. The company is developing Larazotide, an 8-amino acid peptide, which is in Phase 3 clinical trial for the treatment of celiac disease, as well as in Phase IIa clinical trial for treatment of multi-system inflammatory syndrome; and Vurolenatide, a long-acting injectable glucagon-like-peptide-1 that is in Phase 2 clinical trial to treat short bowel syndrome.

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Earnings History for 9 Meters Biopharma (NASDAQ:NMTR)

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