Edward J. Sitar Acquires 15,000 Shares of 9 Meters Biopharma, Inc. (NASDAQ:NMTR) Stock

9 Meters Biopharma, Inc. (NASDAQ:NMTR) CFO Edward J. Sitar acquired 15,000 shares of the firm’s stock in a transaction on Tuesday, September 14th. The stock was purchased at an average price of $1.22 per share, for a total transaction of $18,300.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Shares of NMTR traded up $0.02 on Wednesday, reaching $1.23. The stock had a trading volume of 2,846 shares, compared to its average volume of 6,566,436. 9 Meters Biopharma, Inc. has a 12-month low of $0.63 and a 12-month high of $2.26. The firm has a market capitalization of $312.07 million, a price-to-earnings ratio of -2.09 and a beta of -0.11. The company has a 50-day simple moving average of $1.16 and a 200-day simple moving average of $1.25.

9 Meters Biopharma (NASDAQ:NMTR) last posted its quarterly earnings data on Wednesday, August 11th. The company reported ($0.03) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.03). As a group, sell-side analysts predict that 9 Meters Biopharma, Inc. will post -0.14 earnings per share for the current fiscal year.

NMTR has been the topic of a number of analyst reports. initiated coverage on shares of 9 Meters Biopharma in a research report on Friday, June 4th. They issued a “buy” rating and a $3.00 price objective on the stock. BMO Capital Markets began coverage on shares of 9 Meters Biopharma in a research report on Thursday, July 8th. They issued an “outperform” rating and a $5.00 price objective on the stock. Citigroup began coverage on shares of 9 Meters Biopharma in a research report on Friday, June 4th. They set a “buy” rating on the stock. Finally, Zacks Investment Research lowered shares of 9 Meters Biopharma from a “buy” rating to a “hold” rating in a report on Tuesday, July 27th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $4.18.

A number of hedge funds have recently bought and sold shares of NMTR. Bank of New York Mellon Corp bought a new stake in shares of 9 Meters Biopharma in the 1st quarter worth $68,000. Walleye Capital LLC bought a new stake in shares of 9 Meters Biopharma in the 1st quarter worth $176,000. Millennium Management LLC increased its holdings in shares of 9 Meters Biopharma by 987.5% in the 1st quarter. Millennium Management LLC now owns 1,871,798 shares of the company’s stock worth $2,190,000 after purchasing an additional 1,699,672 shares in the last quarter. Meridian Wealth Management LLC increased its holdings in shares of 9 Meters Biopharma by 900.0% in the 2nd quarter. Meridian Wealth Management LLC now owns 100,000 shares of the company’s stock worth $110,000 after purchasing an additional 90,000 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new stake in shares of 9 Meters Biopharma in the 1st quarter worth $170,000. 29.22% of the stock is owned by institutional investors.

About 9 Meters Biopharma

9 Meters Biopharma, Inc is a clinical-stage biopharmaceutical company, which focuses on rare and unmet needs in gastroenterology. Its pipeline includes drug candidates for short bowel syndrome (SBS), celiac disease, and three early-stage candidates for undisclosed rare diseases and/or unmet needs. The company is founded by Jay P.

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