Candriam Luxembourg S.C.A. lowered its stake in Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) by 9.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 396,300 shares of the biotechnology company’s stock after selling 40,200 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in Momenta Pharmaceuticals were worth $10,423,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Whittier Trust Co. acquired a new stake in shares of Momenta Pharmaceuticals in the second quarter valued at about $541,000. PNC Financial Services Group Inc. grew its stake in shares of Momenta Pharmaceuticals by 4,107.2% in the second quarter. PNC Financial Services Group Inc. now owns 67,526 shares of the biotechnology company’s stock valued at $1,381,000 after buying an additional 65,921 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Momenta Pharmaceuticals by 6.7% in the second quarter. Legal & General Group Plc now owns 169,866 shares of the biotechnology company’s stock valued at $3,445,000 after buying an additional 10,593 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Momenta Pharmaceuticals in the second quarter valued at about $336,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Momenta Pharmaceuticals in the second quarter valued at about $108,000. Institutional investors and hedge funds own 95.98% of the company’s stock.

In other Momenta Pharmaceuticals news, Director Elizabeth Stoner sold 4,152 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $27.33, for a total transaction of $113,474.16. Following the completion of the sale, the director now owns 33,791 shares in the company, valued at approximately $923,508.03. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Craig A. Wheeler sold 1,969 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $27.43, for a total value of $54,009.67. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,069 shares of company stock valued at $260,358. 4.80% of the stock is owned by insiders.

MNTA stock opened at $13.27 on Friday. Momenta Pharmaceuticals, Inc. has a 1 year low of $11.72 and a 1 year high of $32.20. The stock has a market capitalization of $1.03 billion, a PE ratio of -11.06 and a beta of 2.34.

Momenta Pharmaceuticals (NASDAQ:MNTA) last issued its quarterly earnings data on Wednesday, November 7th. The biotechnology company reported ($0.45) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.18. Momenta Pharmaceuticals had a negative return on equity of 44.72% and a negative net margin of 158.21%. The firm had revenue of $14.88 million during the quarter, compared to analyst estimates of $16.99 million. During the same quarter last year, the firm earned ($0.44) EPS. Momenta Pharmaceuticals’s quarterly revenue was down 38.2% on a year-over-year basis. Analysts expect that Momenta Pharmaceuticals, Inc. will post -2.59 EPS for the current year.

A number of equities research analysts have recently issued reports on MNTA shares. Cantor Fitzgerald set a $24.00 target price on Momenta Pharmaceuticals and gave the company a “hold” rating in a research note on Monday, October 1st. Piper Jaffray Companies started coverage on Momenta Pharmaceuticals in a research note on Monday, November 5th. They issued an “overweight” rating and a $35.00 target price for the company. Zacks Investment Research reiterated a “hold” rating on shares of Momenta Pharmaceuticals in a research note on Wednesday. Stifel Nicolaus reiterated a “buy” rating and issued a $40.00 target price on shares of Momenta Pharmaceuticals in a research note on Wednesday, October 10th. Finally, ValuEngine lowered Momenta Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, October 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. Momenta Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $27.00.

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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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