Monopar Therapeutics (NASDAQ:MNPR) Shares Gap Down After Earnings Miss

Shares of Monopar Therapeutics Inc. (NASDAQ:MNPR) gapped down prior to trading on Friday following a weaker than expected earnings announcement. The stock had previously closed at $87.01, but opened at $80.50. Monopar Therapeutics shares last traded at $82.7930, with a volume of 189,923 shares trading hands.

The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.02).

Analyst Ratings Changes

A number of research firms have commented on MNPR. Barclays set a $125.00 target price on Monopar Therapeutics and gave the stock an “overweight” rating in a research report on Monday, October 13th. HC Wainwright set a $105.00 price objective on shares of Monopar Therapeutics and gave the company a “buy” rating in a research note on Monday, September 29th. Lake Street Capital assumed coverage on shares of Monopar Therapeutics in a research report on Tuesday, September 23rd. They set a “buy” rating and a $106.00 target price for the company. Piper Sandler set a $95.00 price target on shares of Monopar Therapeutics and gave the company an “overweight” rating in a research report on Thursday, September 25th. Finally, Raymond James Financial cut shares of Monopar Therapeutics from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the stock from $142.00 to $123.00 in a research note on Friday. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $106.20.

Insider Activity

In related news, major shareholder Tactic Pharma Llc sold 550,229 shares of the firm’s stock in a transaction that occurred on Wednesday, September 24th. The shares were 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 trade represents a 66.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 20.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Russell Investments Group Ltd. purchased a new stake in shares of Monopar Therapeutics in the third quarter valued at $28,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in Monopar Therapeutics in the 2nd quarter valued at about $34,000. AlphaQuest LLC acquired a new position in shares of Monopar Therapeutics during the 1st quarter valued at about $44,000. BNP Paribas Financial Markets lifted its holdings in shares of Monopar Therapeutics by 100.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 696 shares of the company’s stock worth $57,000 after acquiring an additional 349 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Monopar Therapeutics by 1,821.0% in the second 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 last quarter. Hedge funds and other institutional investors own 1.83% of the company’s stock.

Monopar Therapeutics Stock Down 10.4%

The business’s fifty day moving average is $78.12 and its 200-day moving average is $51.42. The stock has a market capitalization of $481.26 million, a PE ratio of -22.67 and a beta of 1.35.

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.