New York State Common Retirement Fund Makes New $200,000 Investment in 9 Meters Biopharma, Inc. (NASDAQ:NMTR)

New York State Common Retirement Fund purchased a new position in shares of 9 Meters Biopharma, Inc. (NASDAQ:NMTR) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 182,100 shares of the company’s stock, valued at approximately $200,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Advisor Group Holdings Inc. lifted its position in 9 Meters Biopharma by 126.7% during the 2nd quarter. Advisor Group Holdings Inc. now owns 34,000 shares of the company’s stock worth $38,000 after acquiring an additional 19,000 shares during the period. Alliancebernstein L.P. acquired a new stake in 9 Meters Biopharma during the 2nd quarter worth about $41,000. Cubist Systematic Strategies LLC acquired a new stake in 9 Meters Biopharma during the 1st quarter worth about $50,000. Morgan Stanley lifted its holdings in shares of 9 Meters Biopharma by 815.0% in the 1st quarter. Morgan Stanley now owns 50,324 shares of the company’s stock valued at $59,000 after buying an additional 44,824 shares during the period. Finally, Almanack Investment Partners LLC. acquired a new position in shares of 9 Meters Biopharma in the 1st quarter valued at about $61,000. 29.22% of the stock is owned by institutional investors.

In other news, major shareholder Israel Gp Ltd. Orbimed sold 15,989,876 shares of the company’s stock in a transaction that occurred on Friday, June 25th. The stock was sold at an average price of $1.21, for a total value of $19,347,749.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John Temperato purchased 25,000 shares of the company’s stock in a transaction dated Wednesday, August 18th. The stock was bought at an average price of $1.05 per share, with a total value of $26,250.00. Following the completion of the transaction, the chief executive officer now directly owns 1,102,522 shares of the company’s stock, valued at $1,157,648.10. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 156,529 shares of company stock valued at $192,569. 2.80% of the stock is owned by company insiders.

NMTR has been the subject of several analyst reports. initiated coverage on 9 Meters Biopharma in a report on Friday, June 4th. They issued a “buy” rating and a $3.00 price objective for the company. BMO Capital Markets initiated coverage on 9 Meters Biopharma in a report on Thursday, July 8th. They issued an “outperform” rating and a $5.00 price objective for the company. Citigroup started coverage on 9 Meters Biopharma in a report on Friday, June 4th. They issued a “buy” rating for the company. Finally, Zacks Investment Research lowered 9 Meters Biopharma from a “buy” rating to a “hold” rating in a research note on Tuesday, July 27th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, 9 Meters Biopharma presently has a consensus rating of “Buy” and a consensus target price of $4.18.

NASDAQ:NMTR opened at $1.23 on Tuesday. 9 Meters Biopharma, Inc. has a 12 month low of $0.63 and a 12 month high of $2.26. The stock has a 50 day moving average of $1.16 and a two-hundred day moving average of $1.24. The firm has a market cap of $313.35 million, a P/E ratio of -2.12 and a beta of -0.11.

9 Meters Biopharma (NASDAQ:NMTR) last posted its quarterly earnings data on Wednesday, August 11th. The company reported ($0.03) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.03). Analysts anticipate that 9 Meters Biopharma, Inc. will post -0.14 earnings per share for the current year.

9 Meters Biopharma Company Profile

9 Meters Biopharma, Inc is a clinical-stage biopharmaceutical company, which focuses on rare and unmet needs in gastroenterology. Its pipeline includes drug candidates for short bowel syndrome (SBS), celiac disease, and three early-stage candidates for undisclosed rare diseases and/or unmet needs. The company is founded by Jay P.

See Also: When is a capital gain realized?

Want to see what other hedge funds are holding NMTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for 9 Meters Biopharma, Inc. (NASDAQ:NMTR).

Institutional Ownership by Quarter for 9 Meters Biopharma (NASDAQ:NMTR)

Receive News & Ratings for 9 Meters Biopharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 9 Meters Biopharma and related companies with MarketBeat.com's FREE daily email newsletter.