Metsera (NASDAQ:MTSR) Trading Down 4.5% - Here's What Happened

Key Points

• Metsera Inc. (NASDAQ:MTSR) experienced a significant decline in its stock price, down 4.5% to $33.31, with a trading volume that was 67% below its average.
• Despite the stock drop, multiple analysts have given Metsera a "buy" rating, with Guggenheim raising its price target from $56.00 to $62.00 and Wells Fargo setting a target of $65.00.
• The company's recent earnings report showed a loss of ($0.66) EPS for the quarter, and it is working on developing new hormone analogs for treating obesity and related conditions.

Metsera Inc. (NASDAQ:MTSR - Get Free Report)'s stock price dropped 4.5% during trading on Monday . The stock traded as low as $32.30 and last traded at $33.31. Approximately 311,314 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 947,174 shares. The stock had previously closed at $34.89.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company assumed coverage on shares of Metsera in a research note on Friday, June 20th. They issued an "overweight" rating and a $65.00 target price for the company. Guggenheim lifted 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. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Metsera presently has a consensus rating of "Buy" and an average price target of $55.00.

Metsera Price Performance

The company's 50-day moving average is $33.02.

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

Institutional Trading of Metsera

A number of institutional investors have recently bought and sold shares of the business. Alphabet Inc. acquired a new stake in Metsera during the 1st quarter worth $135,059,000. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Metsera in the first quarter valued at about $78,748,000. Wellington Management Group LLP acquired a new stake in shares of Metsera during the first quarter worth about $65,382,000. Alpha Wave Global LP acquired a new position in Metsera in the 1st quarter valued at about $64,894,000. Finally, Price T Rowe Associates Inc. MD purchased a new stake in Metsera during the 1st quarter valued at approximately $42,395,000.

Metsera Company 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.