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 $28,462 were purchased by Temperato John on Jul 06. At $0.23 per share, Temperato John acquired 125,000 shares. The insider’s holdings grew to 1,427,522 shares worth approximately $0.3 million following the completion of this transaction.
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Also, Sirgo Mark A purchased 175,000 shares, netting a total of over 42,962 in proceeds. Following the buying of shares at $0.25 each, the insider now holds 1,454,045 shares.
Before that, Constantino Michael T. had added 16,000 shares to its account. In a trade valued at $7,608, the Director bought 9 Meters Biopharma Inc. shares for $0.48 each. Upon closing the transaction, the insider’s holdings increased to 16,000 shares, worth approximately $12706.89.
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 95.8% 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] plunged -6.00% to $0.21. The stock’s lowest price that day was $0.207, but it reached a high of $0.2298 in the same session. During the last five days, there has been a drop of approximately -8.98%. Over the course of the year, 9 Meters Biopharma Inc. shares have dropped approximately -78.55%. Shares of the company reached a 52-week high of $1.0300 on 01/04/22 and a 52-week low of $0.1974 on 07/06/22. A 50-day SMA is recorded $0.2550, while a 200-day SMA reached $0.5148. Nevertheless, trading volume fell to 1.58 million shares from 0.81 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 0.2013, which, if violated, would cause prices to drop to 0.1928. In the upper region, resistance lies at 0.2241. The next price resistance is at 0.2384. RSI (Relative Strength Index) is 34.55 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.0254, which suggests the price will decrease in the coming days. Percent R is at 96.44%, 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 steep in short interest on Jul 14, 2022 dropping by -11.32 million shares to 5.14 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 16.46 million shares. A decline of -220.23% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 0.6 of the overall float, the days-to-cover ratio (short ratio) decline to 0.6.
Which companies own the most shares of 9 Meters Biopharma Inc. (NMTR)?
According to Adage Capital Management LP filings, the company currently owns 14,295,627 shares, which is about 5.52% of the total NMTR shares outstanding. The investor’s shares have plunged by -704,373 from its previous 13-F filing of 15000000.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $3,025,654. A total of -1,493,098 shares of 9 Meters Biopharma Inc. were sold by Geode Capital Management LLC during the quarter, and 1,850,825 by Millennium Management LLC. In its current portfolio, Ghost Tree Capital LLC holds 1,800,000 shares valued at $0.48 million.
In terms of 9 Meters Biopharma Inc. share price expectations, FactSet research, analysts set an average price target of $2.80 in the next 12 months, up nearly 1263.64% from the previous closing price of $0.22. Analysts anticipate 9 Meters Biopharma Inc. stock to reach $4.00 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.