Cormorant Asset Management LP Takes Position in Metsera Inc. $MTSR

Key Points

• Cormorant Asset Management LP purchased 400,000 shares of Metsera Inc. for approximately $10.9 million, making it the company's 28th largest holding.
• Analysts are optimistic about Metsera, with five research firms rating the stock as a Buy, and a consensus price target set at $59.00.
• Metsera Inc. has reported a 12-month high of $47.40 and a 12-month low of $12.30, reflecting significant stock volatility.

Cormorant Asset Management LP acquired a new stake in shares of Metsera Inc. (NASDAQ:MTSR - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 400,000 shares of the company's stock, valued at approximately $10,888,000. Metsera accounts for approximately 0.8% of Cormorant Asset Management LP's portfolio, making the stock its 28th biggest position. Cormorant Asset Management LP owned approximately 0.38% of Metsera at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. New York State Common Retirement Fund purchased a new position in Metsera in the 1st quarter worth approximately $131,000. Corebridge Financial Inc. purchased a new position in Metsera in the 1st quarter worth approximately $206,000. MetLife Investment Management LLC purchased a new stake in shares of Metsera during the 1st quarter worth approximately $254,000. Invesco Ltd. purchased a new stake in shares of Metsera during the 1st quarter worth approximately $271,000. Finally, Deutsche Bank AG purchased a new stake in shares of Metsera during the 1st quarter worth approximately $374,000.

Analysts Set New Price Targets

MTSR has been the subject of a number of analyst reports. Bank of America raised their price target on Metsera from $45.00 to $50.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Wells Fargo & Company started coverage on Metsera in a research report on Friday, June 20th. They issued an "overweight" rating and a $65.00 price target for the company. Cantor Fitzgerald restated an "overweight" rating on shares of Metsera in a research report on Wednesday. Guggenheim increased their target price on Metsera from $56.00 to $62.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Finally, Wall Street Zen upgraded Metsera from a "sell" rating to a "hold" rating in a research note on Saturday, August 30th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Metsera presently has a consensus rating of "Buy" and a consensus price target of $59.00.

Metsera Stock Performance

Shares of MTSR traded down $0.42 during mid-day trading on Friday, hitting $35.87. 1,520,674 shares of the company traded hands, compared to its average volume of 1,208,677. The business has a 50 day moving average of $34.73 and a 200 day moving average of $28.65. Metsera Inc. has a 1-year low of $12.30 and a 1-year high of $47.40.

Metsera (NASDAQ:MTSR - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The company reported ($0.66) earnings per share for the quarter.

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.