9 Meters Biopharma (NASDAQ:NMTR – Get 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
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
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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