Monopar Therapeutics (NASDAQ:MNPR) Announces Earnings Results

Monopar Therapeutics (NASDAQ:MNPR) announced its earnings results on Thursday. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.02), Zacks reports.

Monopar Therapeutics Stock Down 10.4%

MNPR traded down $9.01 during mid-day trading on Friday, reaching $78.00. 273,303 shares of the company traded hands, compared to its average volume of 137,479. The company’s fifty day moving average price is $78.12 and its 200-day moving average price is $51.42. The stock has a market capitalization of $481.26 million, a P/E ratio of -22.67 and a beta of 1.35. Monopar Therapeutics has a 52-week low of $17.09 and a 52-week high of $105.00.

Insider Activity at Monopar Therapeutics

In related news, major shareholder Tactic Pharma Llc sold 550,229 shares of the company’s stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $63.61, for a total transaction of $35,000,066.69. Following the completion of the sale, the insider owned 272,026 shares in the company, valued at approximately $17,303,573.86. This represents a 66.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 20.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Monopar Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP purchased a new position in shares of Monopar Therapeutics in the third quarter worth approximately $18,904,000. Vanguard Group Inc. raised its position in Monopar Therapeutics by 140.7% in the third quarter. Vanguard Group Inc. now owns 208,218 shares of the company’s stock worth $17,005,000 after acquiring an additional 121,729 shares during the period. Deerfield Management Company L.P. purchased a new position in shares of Monopar Therapeutics during the 3rd quarter worth $13,048,000. ADAR1 Capital Management LLC increased its stake in shares of Monopar Therapeutics by 28.7% in the 3rd quarter. ADAR1 Capital Management LLC now owns 129,999 shares of the company’s stock worth $10,617,000 after purchasing an additional 29,025 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Monopar Therapeutics by 99.7% in the 2nd quarter. Geode Capital Management LLC now owns 96,919 shares of the company’s stock worth $3,468,000 after purchasing an additional 48,379 shares during the period. Hedge funds and other institutional investors own 1.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Raymond James Financial downgraded Monopar Therapeutics from a “strong-buy” rating to an “outperform” rating and cut their price target for the stock from $142.00 to $123.00 in a research note on Friday. Chardan Capital increased their target price on Monopar Therapeutics from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Sunday, November 9th. Oppenheimer set a $115.00 price target on Monopar Therapeutics and gave the stock an “outperform” rating in a research report on Thursday, October 2nd. Lake Street Capital began coverage on shares of Monopar Therapeutics in a research report on Tuesday, September 23rd. They set a “buy” rating and a $106.00 price objective on the stock. Finally, BTIG Research upped their target price on shares of Monopar Therapeutics from $87.00 to $104.00 and gave the stock a “buy” rating in a research note on Thursday, September 25th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $106.20.

About Monopar Therapeutics

Monopar Therapeutics Inc, a clinical-stage biopharmaceutical company, engages in developing therapeutics for the treatment of cancer in the United States. Its lead product candidate in development is Validive, a clonidine hydrochloride mucobuccal tablet that is in Phase 2b/3 clinical trial for the prevention of chemoradiotherapy induced severe oral mucositis in patients with oropharyngeal cancer.