Momenta Pharmaceuticals, Inc. (MNTA) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC decreased its stake in Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) by 29.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 278,400 shares of the biotechnology company’s stock after selling 118,700 shares during the period. Renaissance Technologies LLC owned approximately 0.40% of Momenta Pharmaceuticals worth $3,717,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MNTA. Dynamic Technology Lab Private Ltd bought a new position in Momenta Pharmaceuticals during the first quarter valued at $158,000. BNP Paribas Arbitrage SA increased its stake in Momenta Pharmaceuticals by 13.3% in the first quarter. BNP Paribas Arbitrage SA now owns 13,393 shares of the biotechnology company’s stock worth $179,000 after buying an additional 1,570 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Momenta Pharmaceuticals by 3.0% in the first quarter. Envestnet Asset Management Inc. now owns 14,275 shares of the biotechnology company’s stock valued at $191,000 after buying an additional 411 shares during the period. Municipal Employees Retirement System of Michigan boosted its stake in Momenta Pharmaceuticals by 2.2% in the first quarter. Municipal Employees Retirement System of Michigan now owns 14,600 shares of the biotechnology company’s stock valued at $195,000 after buying an additional 310 shares during the period. Finally, Mason Street Advisors LLC boosted its stake in Momenta Pharmaceuticals by 8.3% in the first quarter. Mason Street Advisors LLC now owns 15,122 shares of the biotechnology company’s stock valued at $202,000 after buying an additional 1,154 shares during the period. Hedge funds and other institutional investors own 87.15% of the company’s stock.

Shares of Momenta Pharmaceuticals, Inc. (MNTA) traded down 0.97% during mid-day trading on Friday, hitting $15.30. 337,723 shares of the stock traded hands. The firm’s 50 day moving average price is $16.53 and its 200-day moving average price is $15.72. Momenta Pharmaceuticals, Inc. has a 12-month low of $10.66 and a 12-month high of $19.90. The stock’s market cap is $1.13 billion.

Momenta Pharmaceuticals (NASDAQ:MNTA) last announced its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.50) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.50). The firm had revenue of $23.57 million during the quarter, compared to analysts’ expectations of $24.64 million. Momenta Pharmaceuticals had a negative return on equity of 12.28% and a negative net margin of 39.35%. The company’s quarterly revenue was down 10.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.31) EPS. Analysts predict that Momenta Pharmaceuticals, Inc. will post ($1.09) earnings per share for the current year.

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Several research firms have recently weighed in on MNTA. BidaskClub raised shares of Momenta Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. Zacks Investment Research cut shares of Momenta Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Cowen and Company reissued a “hold” rating and issued a $15.00 price target on shares of Momenta Pharmaceuticals in a research report on Wednesday, May 3rd. Maxim Group set a $6.00 price target on shares of Momenta Pharmaceuticals and gave the company a “sell” rating in a research report on Thursday, August 3rd. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $26.00 price target on shares of Momenta Pharmaceuticals in a research report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $16.63.

In other Momenta Pharmaceuticals news, President Craig A. Wheeler sold 16,953 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $16.94, for a total transaction of $287,183.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 18,749 shares of company stock valued at $315,531 over the last three months. Company 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).

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

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