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

Shares of Metsera, Inc. (NASDAQ:MTSR) gapped down prior to trading on Monday . The stock had previously closed at $29.52, but opened at $28.10. Metsera shares last traded at $29.49, with a volume of 199,136 shares traded.

Analysts Set New Price Targets

MTSR has been the subject of several research analyst reports. Guggenheim assumed coverage on Metsera in a research report on Tuesday, February 25th. They set a “buy” rating and a $56.00 target price for the company. Cantor Fitzgerald began coverage on shares of Metsera in a research report on Tuesday, February 25th. They set an “overweight” rating for the company. Evercore ISI initiated coverage on shares of Metsera in a research report on Tuesday, February 25th. They issued an “outperform” rating on the stock. Finally, Bank of America assumed coverage on shares of Metsera in a research report on Tuesday, February 25th. They set a “buy” rating and a $38.00 target price for the company.

Metsera Price Performance

The stock has a 50-day simple moving average of $23.03.

Metsera (NASDAQ:MTSR) last posted its quarterly earnings results on Monday, May 12th. The company reported ($1.03) earnings per share for the quarter.

Hedge Funds Weigh In On Metsera

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MTSR. Alphabet Inc. bought a new stake in shares of Metsera in the first quarter valued at approximately $135,059,000. T. Rowe Price Investment Management Inc. bought a new position in Metsera in the 1st quarter worth approximately $78,748,000. Wellington Management Group LLP purchased a new position in Metsera in the 1st quarter valued at approximately $65,382,000. Alpha Wave Global LP bought a new stake in Metsera during the 1st quarter valued at $64,894,000. Finally, Price T Rowe Associates Inc. MD bought a new stake in Metsera during the 1st quarter valued at $42,395,000.

Metsera Company Profile

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.