BMO Capital Markets lifts 9 Meters Biopharma Inc. [NMTR] price estimate. Who else is bullish?


9 Meters Biopharma Inc. [NASDAQ: NMTR] gained 16.28% on the last trading session, reaching $0.25 price per share at the time. The company report on July 6, 2022 that 9 Meters Biopharma to Participate in the William Blair Biotech Focus Conference 2022.

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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 participate in a fireside chat at the William Blair Biotech Focus Conference taking place on July 12 – 13, 2022, in New York City. Management will also be hosting one-on-one meetings with investors.

The fireside chat will be available on-demand beginning Monday, July 11, 2022. A link to the recording will be available in the events section of the 9 Meters website.

9 Meters Biopharma Inc. represents 258.24 million in outstanding shares, while the company has a total market value of $66.25 million with the latest information. NMTR stock price has been found in the range of $0.2153 to $0.2544.

If compared to the average trading volume of 4.10M shares, NMTR reached a trading volume of 3794202 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]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NMTR shares is $3.25 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 0.03 The Price to Book ratio for the last quarter was 2.08, with the Price to Cash per share for the same quarter was set at 0.14.

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 11.11. With this latest performance, NMTR shares gained by 11.16% in over the last four-week period, additionally sinking by -67.24% over the last 6 months – not to mention a drop of -76.85% 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 45.21, with the RSI for the last a single of trading hit 52.52, and the three-weeks RSI is set at 43.03 for 9 Meters Biopharma Inc. [NMTR]. The present Moving Average for the last 50 days of trading for this stock 0.3647, while it was recorded at 0.2248 for the last single week of trading, and 0.6763 for the last 200 days.

9 Meters Biopharma Inc. [NMTR]: A deeper dive into fundamental analysis

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.

An analysis of insider ownership at 9 Meters Biopharma Inc. [NMTR]

There are presently around $19 million, or 29.60% 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 1.20% of the total institutional ownership; BLACKROCK INC., holding 13,990,407 shares of the stock with an approximate value of $3.5 million in NMTR stocks shares; and VANGUARD GROUP INC, currently with $2.92 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 August and at the time of the August reporting period, where 33 institutional holders increased their position in 9 Meters Biopharma Inc. [NASDAQ:NMTR] by around 3,102,912 shares. Additionally, 47 investors decreased positions by around 6,312,204 shares, while 35 investors held positions by with 66,230,723 shares. The mentioned changes placed institutional holdings at 75,645,839 shares, according to the latest SEC report filing. NMTR stock had 12 new institutional investments in for a total of 2,394,182 shares, while 19 institutional investors sold positions of 4,843,609 shares during the same period.