Metsera (NASDAQ:MTSR) Shares Gap Down – Here’s Why

Metsera Inc. (NASDAQ:MTSR)’s share price gapped down prior to trading on Monday . The stock had previously closed at $83.18, but opened at $71.00. Metsera shares last traded at $70.57, with a volume of 2,635,846 shares.

Wall Street Analysts Forecast Growth

MTSR has been the topic of a number of recent research reports. Leerink Partnrs downgraded shares of Metsera from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Metsera in a research note on Wednesday, September 3rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Metsera in a research report on Wednesday, October 8th. Bank of America upped their price objective on shares of Metsera from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Finally, Leerink Partners reiterated a “market perform” rating and set a $57.00 price objective (down from $77.00) on shares of Metsera in a report on Wednesday, September 24th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $55.75.

Metsera Stock Performance

The company has a market cap of $7.45 billion and a PE ratio of -13.59. The business’s 50-day moving average is $49.99 and its 200 day moving average is $37.51.

Institutional Trading of Metsera

Several hedge funds have recently made changes to their positions in MTSR. Alphabet Inc. acquired a new position in Metsera during the 1st quarter valued at about $135,059,000. Vanguard Group Inc. increased its position in shares of Metsera by 290.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,824,993 shares of the company’s stock valued at $304,822,000 after acquiring an additional 4,333,514 shares during the period. T. Rowe Price Investment Management Inc. purchased a new position in Metsera during the 1st quarter worth approximately $78,748,000. Wellington Management Group LLP acquired a new stake in Metsera during the 1st quarter valued at approximately $65,382,000. Finally, Alpha Wave Global LP acquired a new stake in shares of Metsera in the first quarter worth $64,894,000.

About Metsera

Metsera, Inc is a clinical stage biopharmaceutical company, which engages in the development of a next-generation injectable and oral nutrient stimulated hormone, or NuSH, analog peptides to treat obesity, overweight and related conditions. Its product pipeline includes MET-097i, MET-233, and MET-224o.