Monopar Therapeutics (NASDAQ:MNPR) Shares Gap Up - Here's What Happened

Key Points

• Monopar Therapeutics' stock price jumped from $84.73 to $88.92 in pre-market trading, ultimately last trading at $93.59.
• Several analysts have issued positive ratings for Monopar, with price targets ranging from $85.00 to $106.00, indicating strong potential growth.
• Insider trading activity has been notable, with significant share sales including a sale of 550,229 shares by a major shareholder, indicating a potential shift in ownership dynamics.

Monopar Therapeutics Inc. (NASDAQ:MNPR - Get Free Report)'s stock price gapped up before the market opened on Thursday . The stock had previously closed at $84.73, but opened at $88.92. Monopar Therapeutics shares last traded at $93.59, with a volume of 8,409 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on MNPR shares. HC Wainwright set a $105.00 price target on shares of Monopar Therapeutics and gave the stock a "buy" rating in a research note on Monday. Lake Street Capital initiated coverage on shares of Monopar Therapeutics in a research note on Tuesday, September 23rd. They set a "buy" rating and a $106.00 target price for the company. BTIG Research increased their price objective on Monopar Therapeutics from $87.00 to $104.00 and gave the stock a "buy" rating in a research report on Thursday, September 25th. Chardan Capital increased their price objective on Monopar Therapeutics from $60.00 to $85.00 and gave the stock a "buy" rating in a research report on Thursday, September 25th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Monopar Therapeutics in a report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $90.44.

Monopar Therapeutics Stock Up 9.7%

The business has a fifty day simple moving average of $46.54 and a 200 day simple moving average of $40.42. The company has a market cap of $573.66 million, a price-to-earnings ratio of -27.91 and a beta of 1.41.

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

Insider Transactions at Monopar Therapeutics

In related news, Director Christopher M. Starr sold 16,800 shares of Monopar Therapeutics stock in a transaction on Monday, July 14th. The stock was sold at an average price of $40.00, for a total transaction of $672,000.00. Following the completion of the transaction, the director directly owned 5,173 shares of the company's stock, valued at approximately $206,920. The trade was a 76.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Tactic Pharma Llc sold 550,229 shares of Monopar Therapeutics 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 transaction, the insider directly owned 272,026 shares of the company's stock, valued at $17,303,573.86. This trade represents a 66.92% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 592,733 shares of company stock valued at $36,700,227. Company insiders own 20.50% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Affinity Asset Advisors LLC acquired a new position in shares of Monopar Therapeutics in the first quarter worth $2,257,000. Geode Capital Management LLC raised its stake in Monopar Therapeutics by 99.7% in the 2nd quarter. Geode Capital Management LLC now owns 96,919 shares of the company's stock valued at $3,468,000 after purchasing an additional 48,379 shares during the last quarter. Goldman Sachs Group Inc. acquired a new position in Monopar Therapeutics in the 1st quarter valued at about $673,000. Jane Street Group LLC acquired a new position in Monopar Therapeutics in the 1st quarter valued at about $377,000. Finally, OMERS ADMINISTRATION Corp acquired a new position in shares of Monopar Therapeutics in the first quarter valued at approximately $328,000. 1.83% of the stock is currently owned by institutional investors and hedge funds.

Monopar Therapeutics Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.