Mentari Therapeutics (NASDAQ:MTRI) Stock: Insider Adar1 Capital Management, Llc Purchases 2,640 Shares

Mentari Therapeutics (NASDAQ:MTRI) major shareholder Adar1 Capital Management, Llc bought 2,640 shares of Mentari Therapeutics stock in a transaction that occurred on Thursday, November 5th. The stock was bought at an average price of $13.10 per share, with a total value of $34,584.00. Following the completion of the acquisition, the insider owned 98,297 shares in the company, valued at approximately $1,287,690.70. The trade was a 2.76% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Mentari Therapeutics Price Performance

Wall Street Analysts Forecast Growth

MTRI has been the topic of several recent analyst reports. Jefferies Financial Group began coverage on shares of Mentari Therapeutics in a report on Tuesday. They issued a “buy” rating on the stock. Stifel Nicolaus assumed coverage on shares of Mentari Therapeutics in a report on Tuesday. They set a “buy” rating and a $30.00 price target for the company. Two investment analysts have rated the stock with a Buy rating. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $30.00.

Mentari Therapeutics Company Profile

InMed Pharmaceuticals Inc, a clinical stage pharmaceutical company, researches and develops cannabinoid-based therapies. The company’s lead product is INM-755, a cannabinol topical cream, which is in a second Phase I clinical trials for the treatment of epidermolysis bullosa. The company is also involved in developing INM-088, which is in preclinical studies for the treatment of glaucoma; and INM-405 for the treatment of pain. In addition, it engages in the development of cannabinoid-based treatments for various diseases, including dermatology and ocular diseases.