9 Meters Biopharma Inc. [NASDAQ: NMTR] stock went on an upward path that rose over 9.42% on Friday, amounting to a one-week price decrease of less than -32.67%. The company report on June 21, 2022 that 9 Meters Biopharma Announces Interim Analysis of Phase 3 Study of Larazotide for Celiac Disease Does Not Support Trial Continuation.
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Additional analyses to determine if a subgroup of patients and/or symptoms may have been responsive to treatment.
Company remains on track to deliver vurolenatide Phase 2 short bowel syndrome results by end of month.
Over the last 12 months, NMTR stock dropped by -71.85%. The one-year 9 Meters Biopharma Inc. stock forecast points to a potential upside of 87.33. The average equity rating for NMTR stock is currently 1.70, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $90.00 million, with 258.24 million shares outstanding and 249.02 million shares in the current float. Compared to the average trading volume of 2.12M shares, NMTR stock reached a trading volume of 33747146 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $3.00 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 0.08 The Price to Book ratio for the last quarter was 3.17, with the Price to Cash per share for the same quarter was set at 0.16.
NMTR Stock Performance Analysis:
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 -32.67. With this latest performance, NMTR shares dropped by -18.45% in over the last four-week period, additionally sinking by -59.67% over the last 6 months – not to mention a drop of -71.85% 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 42.27, with the RSI for the last a single of trading hit 40.58, and the three-weeks RSI is set at 43.37 for 9 Meters Biopharma Inc. [NMTR]. The present Moving Average for the last 50 days of trading for this stock 0.4666, while it was recorded at 0.3593 for the last single week of trading, and 0.8122 for the last 200 days.
Insight into 9 Meters Biopharma Inc. 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 4.80 and a Current Ratio set at 4.80.
9 Meters Biopharma Inc. [NMTR] Insider Position Details
There are presently around $29 million, or 29.50% 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 1.10% of the total institutional ownership; BLACKROCK INC., holding 13,990,407 shares of the stock with an approximate value of $5.32 million in NMTR stocks shares; and VANGUARD GROUP INC, currently with $4.45 million in NMTR stock with ownership of nearly -1.236% 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 33 institutional holders increased their position in 9 Meters Biopharma Inc. [NASDAQ:NMTR] by around 3,136,766 shares. Additionally, 50 investors decreased positions by around 6,495,411 shares, while 35 investors held positions by with 65,914,298 shares. The mentioned changes placed institutional holdings at 75,546,475 shares, according to the latest SEC report filing. NMTR stock had 13 new institutional investments in for a total of 2,367,239 shares, while 18 institutional investors sold positions of 5,010,229 shares during the same period.