EcoR1 Capital LLC Invests $1.36 Million in Metsera Inc. $MTSR

Key Points

• EcoR1 Capital LLC acquired 50,000 shares of Metsera Inc. for approximately $1.36 million in the first quarter.
• Multiple hedge funds, including Bank of New York Mellon Corp and Alphabet Inc., also made significant investments in Metsera during the same period.
• Metsera has an average analyst rating of "Buy" with a price target of around $59.00, following several rating upgrades from financial institutions.

EcoR1 Capital LLC purchased a new position in Metsera Inc. (NASDAQ:MTSR - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 50,000 shares of the company's stock, valued at approximately $1,361,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Alphabet Inc. bought a new position in shares of Metsera in the first quarter worth $135,059,000. T. Rowe Price Investment Management Inc. bought a new position in shares of Metsera in the first quarter worth $78,748,000. Wellington Management Group LLP bought a new position in shares of Metsera in the first quarter worth $65,382,000. Alpha Wave Global LP bought a new position in shares of Metsera in the first quarter worth $64,894,000. Finally, Price T Rowe Associates Inc. MD bought a new position in shares of Metsera in the first quarter worth $42,395,000.

Analyst Ratings Changes

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

Metsera Trading Down 1.2%

Shares of NASDAQ 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. Metsera Inc. has a 1 year low of $12.30 and a 1 year high of $47.40. The business has a 50 day moving average of $34.73 and a two-hundred day moving average of $28.65.

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

Metsera Profile

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.