Monopar Therapeutics (NASDAQ:MNPR) Stock Price Up 16.3% After Analyst Upgrade

Key Points

• Monopar Therapeutics' stock increased by 16.3% after an upgrade from Jones Trading, changing its rating from hold to strong-buy.
• Multiple analysts have set positive price targets for Monopar Therapeutics, with a consensus target price of $105.67 and ratings ranging from strong buy to outperform.
• Major shareholder Tactic Pharma Llc significantly reduced their position by selling over 550,000 shares but still retains approximately 272,000 shares valued at around $17.3 million.

Monopar Therapeutics Inc. (NASDAQ:MNPR - Get Free Report)'s stock price was up 16.3% during mid-day trading on Monday after Jones Trading upgraded the stock from a hold rating to a strong-buy rating. The company traded as high as $101.46 and last traded at $102.16. Approximately 62,918 shares traded hands during mid-day trading, an increase of 39% from the average daily volume of 45,108 shares. The stock had previously closed at $87.82.

MNPR has been the subject of several other reports. Oppenheimer set a $115.00 price objective on Monopar Therapeutics and gave the stock an "outperform" rating in a research note on Thursday, October 2nd. Chardan Capital increased their price objective on Monopar Therapeutics from $60.00 to $85.00 and gave the company a "buy" rating in a research note on Thursday, September 25th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Monopar Therapeutics in a report on Wednesday, September 24th. Piper Sandler set a $95.00 price target on Monopar Therapeutics and gave the stock an "overweight" rating in a report on Thursday, September 25th. Finally, BTIG Research lifted their target price on Monopar Therapeutics from $87.00 to $104.00 and gave the stock a "buy" rating in a research report on Thursday, September 25th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Monopar Therapeutics has an average rating of "Buy" and a consensus target price of $105.67.

Insider Buying and Selling

In other Monopar Therapeutics news, 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 transaction of $35,000,066.69. Following the sale, the insider owned 272,026 shares in the company, valued at approximately $17,303,573.86. This represents a 66.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 20.50% of the company's stock.

Institutional Investors Weigh In On Monopar Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Monopar Therapeutics during the 2nd quarter worth about $34,000. AlphaQuest LLC purchased a new position in shares of Monopar Therapeutics during the 1st quarter worth about $44,000. JPMorgan Chase & Co. lifted its holdings in shares of Monopar Therapeutics by 1,821.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,921 shares of the company's stock worth $69,000 after acquiring an additional 1,821 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Monopar Therapeutics in the second quarter valued at $80,000. Finally, New York State Common Retirement Fund acquired a new position in Monopar Therapeutics in the second quarter valued at $104,000. Hedge funds and other institutional investors own 1.83% of the company's stock.

Monopar Therapeutics Stock Up 12.4%

The stock has a market cap of $608.92 million, a price-to-earnings ratio of -29.64 and a beta of 1.42. The stock has a fifty day moving average of $54.12 and a two-hundred day moving average of $43.32.

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

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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