9 Meters Biopharma Inc. [NASDAQ: NMTR] gained 2.18% or 0.01 points to close at $0.57 with a heavy trading volume of 2871836 shares. The gastroenterology based company couple of days back announced that it is set to modify its definition of the primary endpoint in the ongoing Phase 3 trial with the consultation of the FDA. The phase 3 trial is currently dealing with the evaluation of larazotide for treating celiac disease.
The main element for the initial assessment will remain Celiac Disease Patient-Reported Outcome (CeD PRO). The change will occur in the definition of the primary endpoint that will now use an incessant variable in place of a responder analysis. The main design of the current trial will not be affected by this definition amendment.
It opened the trading session at $0.67, the shares rose to $0.67 and dropped to $0.5547, the range by which the price of stock traded the whole day. The daily chart for NMTR points out that the company has recorded 4.14% gains over the past six months. However, it is still -54.05% lower than its most recent low trading price.
If we look at the average trading volume of 427.94K shares, NMTR reached to a volume of 2871836 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about 9 Meters Biopharma Inc. [NMTR]:
The Average True Range (ATR) for 9 Meters Biopharma Inc. is set at 0.06
Trading performance analysis for NMTR stock
9 Meters Biopharma Inc. [NMTR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.16. With this latest performance, NMTR shares dropped by -1.21% in over the last four-week period, additionally plugging by 4.14% over the last 6 months – not to mention a drop of -50.82% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NMTR stock in for the last two-week period is set at 49.65, with the RSI for the last a single of trading hit 51.10, and the three-weeks RSI is set at 52.30 for 9 Meters Biopharma Inc. [NMTR].
9 Meters Biopharma Inc. [NMTR]: A deeper dive into fundamental analysis
9 Meters Biopharma Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.20 and a Current Ratio set at 0.20.
9 Meters Biopharma Inc. [NMTR]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, 9 Meters Biopharma Inc. posted -0.03/share EPS, while the average EPS was predicted by analysts to be reported at -0.21/share.When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 85.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NMTR.
An analysis of insider ownership at 9 Meters Biopharma Inc. [NMTR]
There are presently around $1 million, or 1.80% of NMTR stock, in the hands of institutional investors. The top three institutional holders of NMTR stocks are: VANGUARD GROUP INC with ownership of 721,046, which is approximately 0% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 355,175 shares of the stock with an approximate value of $0.2 million in NMTR stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $0.13 million in NMTR stock with ownership of nearly 221.539% of the company’s market capitalization.
10 institutional holders increased their position in 9 Meters Biopharma Inc. [NASDAQ:NMTR] by around 275,972 shares. Additionally, 6 investors decreased positions by around 994,048 shares, while 10 investors held positions by with 433,369 shares. The mentioned changes placed institutional holdings at 1,703,389 shares, according to the latest SEC report filing. NMTR stock had 5 new institutional investments in for a total of 92,890 shares, while 2 institutional investors sold positions of 943,908 shares during the same period.