OrbiMed Advisors LLC recently announced the acquisition of new stake in 9 Meters Biopharma Inc. (NASDAQ:NMTR). This fresh investment now brings its stake to 18.88% valued currently at $12.24 million. In addition, China Huarong Asset Management Co.. raised its holdings by 4.25 million to 4.25 million shares.
With over 2.96 million 9 Meters Biopharma Inc. (NMTR) shares trading Friday and a closing price of $0.61 on the day, the dollar volume was approximately $1.81 million. The shares have shown a negative weekly performance of -8.22% and its price on 08/28/20 gained nearly 5.99%. Currently, there are 138.93M common shares owned by the public and among those 98.60M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for NMTR have a consensus price objective of $5.00. The analysts have set the share’s price value over the next 12 months at a high of $5.00 and a low of $5.00 should the stock experience a downside. Incidentally, analysts’ outlook for the 9 Meters Biopharma Inc. stock is 2.00 for the next 12 months. But an upside of 87.8% will see the stock hit the forecast high price target while mean target price for the stock is $5.00.
Insiders at the company have transacted a total of 0 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in 9 Meters Biopharma Inc. are Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and Fidelity Extended Market Index Fu. Vanguard Total Stock Market Index owns 0.51 million shares of the company’s stock, all valued at over $0.25 million. Fidelity Extended Market Index Fu now owns shares totaling to 0.04% of the shares outstanding.
Shares of 9 Meters Biopharma Inc. (NASDAQ: NMTR) opened at $0.5822, up $0.01 from a prior closing price of $0.57. However, the script later closed the day at $0.61, up 5.99%. The company’s stock has a 5-day price change of -8.22% and 4.36% over the past three months. NMTR shares are trading 8.63% year to date (YTD), with the 12-month market performance down to -29.64% lower. It has a 12-month low price of $0.37 and touched a high of $1.29 over the same period. Currently, 2.96 million shares have been traded, compared to an average intraday trading volume of 5.79 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.97%, 7.47%, and -0.89% respectively.
Institutional ownership of 9 Meters Biopharma Inc. (NASDAQ: NMTR) shares accounts for 20.60% of the company’s 138.93M shares outstanding. Mutual fund holders own 18.94%, while other institutional holders and individual stakeholders account for 23.47% and 0.67% respectively.
It has a market capitalization of $79.32M and a beta (3y monthly) value of -4.83. The earnings-per-share (ttm) stands at -$1.16. Price movements for the stock have been influenced by the stock’s volatility, which stands at 11.80% over the week and 12.04% over the month.
Analysts forecast that 9 Meters Biopharma Inc. (NMTR) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and -$0.5 for 2020. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Comparatively, EPS for the current quarter was -$0.03 a year ago.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate 9 Meters Biopharma Inc. (NMTR) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 0 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”