Metsera (NASDAQ:MTSR) Trading Down 4.3% - Here's Why

Key Points

• Metsera Inc. (NASDAQ:MTSR) saw its stock drop by 4.3%, closing at $34.15 after trading as low as $34.08, with volume down 48% from the average.
• Guggenheim increased their price target for Metsera from $56.00 to $62.00, while other analysts maintained positive ratings, with an average consensus target price of $63.50.
• Institutional investors showed significant interest in Metsera, with Alphabet Inc. and T. Rowe Price among those acquiring new stakes totaling over $135 million.

Metsera Inc. (NASDAQ:MTSR - Get Free Report) traded down 4.3% on Monday . The company traded as low as $34.08 and last traded at $34.15. 543,246 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 1,038,274 shares. The stock had previously closed at $35.67.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Guggenheim lifted their price objective on Metsera from $56.00 to $62.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Cantor Fitzgerald reissued an "overweight" rating on shares of Metsera in a research note on Wednesday, September 3rd. Wall Street Zen raised shares of Metsera from a "sell" rating to a "hold" rating in a research note on Monday. Bank of America raised their price objective on shares of Metsera from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, August 28th. Finally, Leerink Partners began coverage on Metsera in a research note on Tuesday, September 9th. They issued an "outperform" rating and a $77.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $63.50.

Metsera Stock Performance

The business's 50 day moving average is $35.49 and its 200 day moving average is $28.91.

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

Institutional Investors Weigh In On Metsera

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

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