The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. 9 Meters Biopharma Inc. shares valued at $7,608 were purchased by Constantino Michael T. on May 23. At $0.48 per share, Constantino Michael T. acquired 16,000 shares. The insider’s holdings grew to 60,509 shares worth approximately $21178.149999999998 following the completion of this transaction.
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Also, Temperato John purchased 50,000 shares, netting a total of over 22,285 in proceeds. Following the buying of shares at $0.45 each, the insider now holds 1,302,522 shares.
Before that, Sirgo Mark A had added 106,383 shares to its account. In a trade valued at $50,000, the Director bought 9 Meters Biopharma Inc. shares for $0.47 each. Upon closing the transaction, the insider’s holdings increased to 106,383 shares, worth approximately $0.48 million.
As published in their initiating research note from BMO Capital Markets on July 08, 2021, 9 Meters Biopharma Inc. [NMTR] has been an Outperform and the price target has been revised to $5. This represents a 93.0% premium over Thursday’s closing price. Analysts at Citigroup started covering the stock with ‘”a Buy”‘ outlook in a report released in early June.
Analyzing NMTR’s Price Performance
On Thursday, 9 Meters Biopharma Inc. [NASDAQ: NMTR] rose 31.11% to $0.35. The stock’s lowest price that day was $0.2656, but it reached a high of $0.3799 in the same session. During the last five days, there has been a drop of approximately -39.86%. Over the course of the year, 9 Meters Biopharma Inc. shares have dropped approximately -64.51%. Shares of the company reached a 52-week high of $1.0300 on 01/04/22 and a 52-week low of $0.2210 on 06/21/22. A 50-day SMA is recorded $0.4693, while a 200-day SMA reached $0.8170. Nevertheless, trading volume fell to 13.23 million shares from 25.77 million shares the previous day.
Support And Resistance Levels for 9 Meters Biopharma Inc. (NMTR)
According to the 24-hour chart, there is a support level at 0.2820, which, if violated, would cause prices to drop to 0.2166. In the upper region, resistance lies at 0.3963. The next price resistance is at 0.4452. RSI (Relative Strength Index) is 39.12 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.2155, which suggests the price will decrease in the coming days. Percent R is at 71.23%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is 9 Meters Biopharma Inc. subject to short interest?
Stocks of 9 Meters Biopharma Inc. saw a sharp rise in short interest on May 30, 2022 jumping by 1.49 million shares to 15.35 million. Data from Yahoo Finance shows that the short interest on Apr 28, 2022 was 13.86 million shares. A jump of 9.71% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 11.62 of the overall float, the days-to-cover ratio (short ratio) jumped to 11.62.
Which companies own the most shares of 9 Meters Biopharma Inc. (NMTR)?
According to Adage Capital Management LP filings, the company currently owns 15,000,000 shares, which is about 5.79% of the total NMTR shares outstanding. The investor’s shares have plunged by 0 from its previous 13-F filing of 15000000.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $5,861,542. The Vanguard Group, Inc. reduced a -0.98% interest valued at $5.09 million while SSgA Funds Management, Inc. purchased a 91,800 stake. A total of -58,968 shares of 9 Meters Biopharma Inc. were bought by Geode Capital Management LLC during the quarter, and 0 were sold by Ghost Tree Capital LLC. In its current portfolio, Renaissance Technologies LLC holds 2,247,100 shares valued at $1.02 million.
In terms of 9 Meters Biopharma Inc. share price expectations, FactSet research, analysts set an average price target of $3.17 in the next 12 months, up nearly 1246.15% from the previous closing price of $0.26. Analysts anticipate 9 Meters Biopharma Inc. stock to reach $5.00 by 2022, with the lowest price target being $1.00. In spite of this, 6 analysts ranked 9 Meters Biopharma Inc. stock as a Buy at the end of 2022.