Market Analysts see 9 Meters Biopharma Inc. [NMTR] gaining to $5. Time to buy?

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9 Meters Biopharma Inc. [NASDAQ: NMTR] slipped around -0.05 points on Wednesday, while shares priced at $0.36 at the close of the session, down -13.66%. The company report on May 5, 2022 that 9 Meters Biopharma to Present at the H.C. Wainwright Global Investment Conference and the LifeSci Partners Immunology & Inflammation Symposium.

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9 Meters Biopharma, Inc. (NASDAQ:NMTR), a clinical-stage company pioneering novel treatments for people with rare or debilitating digestive diseases, announced today that John Temperato, President & Chief Executive Officer of 9 Meters, will present at the LifeSci Partners Immunology & Inflammation Symposium on May 10, 2022, and the H.C. Wainwright Global Investment Conference to be held on May 23-26, 2022.

LifeSci Capital Immunology & Inflammation SymposiumPresentation Date: Tuesday, May 10, 2022Time: 10:00 AM EDTWebcast link.

9 Meters Biopharma Inc. stock is now -63.45% down from its year-to-date (YTD) trading value. NMTR Stock saw the intraday high of $0.4198 and lowest of $0.3501 per share. The company’s 52-week high price is 1.55, which means current price is +2.17% above from all time high which was touched on 01/04/22.

Compared to the average trading volume of 1.32M shares, NMTR reached a trading volume of 3794233 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 9 Meters Biopharma Inc. [NMTR]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NMTR shares is $4.60 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NMTR stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BMO Capital Markets have made an estimate for 9 Meters Biopharma Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on July 08, 2021. While these analysts kept the previous recommendation, Citigroup raised their target price to Buy. The new note on the price target was released on June 04, 2021, representing the official price target for 9 Meters Biopharma Inc. stock.

The Average True Range (ATR) for 9 Meters Biopharma Inc. is set at 0.04 The Price to Book ratio for the last quarter was 2.24, with the Price to Cash per share for the same quarter was set at 0.19.

How has NMTR stock performed recently?

9 Meters Biopharma Inc. [NMTR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -18.70. With this latest performance, NMTR shares dropped by -30.54% in over the last four-week period, additionally sinking by -69.94% over the last 6 months – not to mention a drop of -67.48% 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 29.37, with the RSI for the last a single of trading hit 26.36, and the three-weeks RSI is set at 31.52 for 9 Meters Biopharma Inc. [NMTR]. The present Moving Average for the last 50 days of trading for this stock 0.5224, while it was recorded at 0.4057 for the last single week of trading, and 0.9135 for the last 200 days.

9 Meters Biopharma Inc. [NMTR]: Deeper insight into the fundamentals

Return on Equity for this stock declined to -99.75, with Return on Assets sitting at -82.34.

9 Meters Biopharma Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.90 and a Current Ratio set at 5.90.

Insider trade positions for 9 Meters Biopharma Inc. [NMTR]

There are presently around $33 million, or 30.90% of NMTR stock, in the hands of institutional investors. The top three institutional holders of NMTR stocks are: ADAGE CAPITAL PARTNERS GP, L.L.C. with ownership of 15,000,000, which is approximately 0% of the company’s market cap and around 1.00% of the total institutional ownership; BLACKROCK INC., holding 14,164,801 shares of the stock with an approximate value of $5.86 million in NMTR stocks shares; and VANGUARD GROUP INC, currently with $4.9 million in NMTR stock with ownership of nearly 1.498% of the company’s market capitalization.

Positions in 9 Meters Biopharma Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 43 institutional holders increased their position in 9 Meters Biopharma Inc. [NASDAQ:NMTR] by around 9,511,633 shares. Additionally, 40 investors decreased positions by around 3,418,193 shares, while 32 investors held positions by with 65,852,856 shares. The mentioned changes placed institutional holdings at 78,782,682 shares, according to the latest SEC report filing. NMTR stock had 8 new institutional investments in for a total of 4,725,171 shares, while 14 institutional investors sold positions of 836,962 shares during the same period.