The price of 9 Meters Biopharma Inc. (NASDAQ:NMTR) shares last traded on Wall Street fell -12.51% to $0.17.
Based on available information, 2 analysts follow 9 Meters Biopharma Inc. (NASDAQ:NMTR). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $0.75 and a low of $0.75, we find $0.75. Given the previous closing price of $0.19, this indicates a potential upside of 294.74 percent. NMTR stock price is now -75.80% away from the 50-day moving average and -89.69% away from the 200-day moving average. The market capitalization of the company currently stands at $2.48M.
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Among analysts, 1 rate the stock a hold while 1 rate it a buy. Brokers who have rated the stock have averaged $0.75 as their price target over the next twelve months.
With the price target of $5, BMO Capital Markets recently initiated with Outperform rating for 9 Meters Biopharma Inc. (NASDAQ: NMTR).
In other news, Sensenig Bethany, Chief Financial Officer sold 9,100 shares of the company’s stock on Apr 21. The stock was sold for $11,011 at an average price of $1.21. Upon completion of the transaction, the Chief Financial Officer now directly owns 41,077 shares in the company, valued at $6983.09. Insiders disposed of 9,100 shares of company stock worth roughly $1547.0 over the past 1 year. A total of 1.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in NMTR stock. A new stake in 9 Meters Biopharma Inc. shares was purchased by SABBY MANAGEMENT, LLC during the first quarter worth $189,000. CIBC ASSET MANAGEMENT INC invested $6,000 in shares of NMTR during the first quarter. In the first quarter, REQUISITE CAPITAL MANAGEMENT, LLC acquired a new stake in 9 Meters Biopharma Inc. valued at approximately $3,000. CERITY PARTNERS LLC acquired a new stake in NMTR for approximately $2,000. MERCER GLOBAL ADVISORS INC /ADV purchased a new stake in NMTR valued at around $2,000 in the second quarter. In total, there are 54 active investors with 18.90% ownership of the company’s stock.
A candlestick chart of 9 Meters Biopharma Inc. (NASDAQ: NMTR) showed a price of $0.1900 on Wednesday morning. During the past 12 months, 9 Meters Biopharma Inc. has had a low of $0.18 and a high of $6.56. The fifty day moving average price for NMTR is $0.6923 and a two-hundred day moving average price translates $1.6334 for the stock.
The latest earnings results from 9 Meters Biopharma Inc. (NASDAQ: NMTR) was released for Mar, 2023. According to the Biotechnology Company, earnings per share came in at -$1.02, missing analysts’ expectations of -$0.78 by -0.24. This compares to -$0.88 EPS in the same period last year. The company reported revenue of $12.79 million for the quarter, compared to $11.36 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 12.53 percent.
9 Meters Biopharma Inc.(NMTR) Company Profile
9 Meters Biopharma, Inc., a clinical-stage biopharmaceutical company, focuses on treatments for people with rare digestive diseases, gastrointestinal conditions with unmet needs, and debilitating disorders in North America. Its lead product candidate is Vurolenatide, a long-acting injectable glucagon-like-peptide-1 that is in Phase 3 clinical trial to treat short bowel syndrome. The company is developing NM-136, a humanized monoclonal antibody for the treatment of obesity and obesity-related disorders; NM-102, a small molecule peptide to prevent antigens from trafficking into systemic circulation; and NM-003, a proprietary long-acting glucagon-like peptide-2 receptor agonist for prevention of acute graft versus host disease. Its partnered product is Larazotide, an 8-amino acid peptide, which is in Phase 2 clinical trial for treatment of multi-system inflammatory syndrome. The company has licensing agreements with Amunix, MHS Care Innovation LLC, Alba Therapeutics Corporation, and EBRIS. 9 Meters Biopharma, Inc. is headquartered in Raleigh, North Carolina. On July 17, 2023, 9 Meters Biopharma, Inc. filed a voluntary petition for liquidation under Chapter 7 in the U.S. Bankruptcy Court for the Eastern District of North Carolina.
