Monopar Therapeutics (NASDAQ:MNPR) Major Shareholder Tactic Pharma Llc Sells 550,229 Shares

Key Points

• Tactic Pharma LLC, a major shareholder of Monopar Therapeutics, sold 550,229 shares at an average price of $63.61, resulting in a total value of approximately $35 million and a 66.92% decrease in their ownership.
• As of the latest trading session, Monopar Therapeutics' stock is down by 1.0%, trading at $76.63 with a market cap of $472.81 million and a PE ratio of -23.01.
• Monopar has recently received positive ratings from several analysts, with a consensus target price of $82.33 and has been upgraded by different firms, reflecting a strong interest in the company's stock.

Monopar Therapeutics Inc. (NASDAQ:MNPR - Get Free Report) major shareholder Tactic Pharma Llc sold 550,229 shares of the stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $63.61, for a total value of $35,000,066.69. Following the completion of the sale, the insider directly 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 SEC, which is available at this link. Major shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

Monopar Therapeutics Stock Down 1.0%

Shares of NASDAQ MNPR traded down $0.81 during trading on Friday, reaching $76.63. The company had a trading volume of 85,483 shares, compared to its average volume of 42,210. The stock has a market cap of $472.81 million, a PE ratio of -23.01 and a beta of 1.20. Monopar Therapeutics Inc. has a 12-month low of $4.50 and a 12-month high of $79.80. The business's 50-day moving average is $43.86 and its 200 day moving average is $39.04.

Monopar Therapeutics (NASDAQ:MNPR - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.47) by $0.12. On average, analysts anticipate that Monopar Therapeutics Inc. will post -1.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Raymond James Financial assumed coverage on Monopar Therapeutics in a research report on Tuesday, September 2nd. They issued a "strong-buy" rating and a $80.00 target price on the stock. Oppenheimer initiated coverage on Monopar Therapeutics in a research note on Wednesday, September 3rd. They issued an "outperform" rating and a $77.00 price objective on the stock. Cantor Fitzgerald reiterated an "overweight" rating on shares of Monopar Therapeutics in a report on Wednesday. Chardan Capital boosted their price objective on Monopar Therapeutics from $60.00 to $85.00 and gave the company a "buy" rating in a report on Thursday. Finally, BTIG Research boosted their price objective on Monopar Therapeutics from $87.00 to $104.00 and gave the company a "buy" rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $82.33.

Hedge Funds Weigh In On Monopar Therapeutics

Hedge funds have recently made changes to their positions in the company. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Monopar Therapeutics in the second quarter valued at approximately $34,000. AlphaQuest LLC purchased a new position in shares of Monopar Therapeutics during the first quarter worth $44,000. JPMorgan Chase & Co. boosted its holdings in Monopar Therapeutics by 1,821.0% in the second quarter. JPMorgan Chase & Co. now owns 1,921 shares of the company's stock valued at $69,000 after purchasing an additional 1,821 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Monopar Therapeutics in the second quarter valued at $80,000. Finally, New York State Common Retirement Fund purchased a new position in Monopar Therapeutics in the second quarter valued at $104,000. Institutional investors and hedge funds own 1.83% of the company's stock.

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.

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