Metsera (NASDAQ:MTSR) Stock Price Down 6.3% – What’s Next?

Metsera Inc. (NASDAQ:MTSR) shares dropped 6.3% on Monday . The company traded as low as $26.57 and last traded at $27.74. Approximately 164,075 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 921,512 shares. The stock had previously closed at $29.60.

Analysts Set New Price Targets

Several research firms have issued reports on MTSR. Guggenheim boosted their price objective on Metsera from $56.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, June 10th. Evercore ISI initiated coverage on shares of Metsera in a research report on Tuesday, February 25th. They issued an “outperform” rating on the stock. Cantor Fitzgerald started coverage on shares of Metsera in a report on Tuesday, February 25th. They set an “overweight” rating on the stock. Wells Fargo & Company started coverage on shares of Metsera in a research report on Friday, June 20th. They issued an “overweight” rating and a $65.00 price target for the company. Finally, Bank of America assumed coverage on shares of Metsera in a research report on Tuesday, February 25th. They set a “buy” rating and a $38.00 price objective on the stock. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $55.00.

Metsera Stock Up 1.1%

The stock has a 50 day moving average price of $26.16.

Metsera (NASDAQ:MTSR) last issued its earnings results on Monday, May 12th. The company reported ($1.03) earnings per share for the quarter.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Alphabet Inc. purchased a new stake in Metsera in the 1st quarter worth approximately $135,059,000. T. Rowe Price Investment Management Inc. acquired a new position in shares of Metsera in the first quarter worth $78,748,000. Wellington Management Group LLP purchased a new stake in shares of Metsera during the first quarter worth $65,382,000. Alpha Wave Global LP purchased a new stake in shares of Metsera during the first quarter worth $64,894,000. Finally, Price T Rowe Associates Inc. MD acquired a new stake in Metsera during the first quarter valued at $42,395,000.

About Metsera

Metsera, Inc is a clinical stage biopharmaceutical company, which engages in the development of a next-generation injectable and oral nutrient stimulated hormone, or NuSH, analog peptides to treat obesity, overweight and related conditions. Its product pipeline includes MET-097i, MET-233, and MET-224o.