Key Points
- Adar1 Capital Management bought 2,640 Mentari Therapeutics shares at an average $13.10 each, spending $34,584. Its stake rose 2.76% to 98,297 shares.
- Stifel Nicolaus and Jefferies both initiated coverage with Buy ratings and $30 price targets; the consensus rating is Buy with a $30 target.
- MTRI opened at $12.20, compared with a 52-week range of $5.75 to $23.30.
Mentari Therapeutics (NASDAQ:MTRI - Get Free Report) major shareholder Adar1 Capital Management, Llc bought 2,640 shares of the business's stock in a transaction on Thursday, November 5th. The stock was purchased at an average cost of $13.10 per share, for a total transaction of $34,584.00. Following the transaction, the insider owned 98,297 shares of the company's stock, valued at $1,287,690.70. This trade represents a 2.76% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.
Mentari Therapeutics Price Performance
NASDAQ:MTRI opened at $12.20 on Wednesday. Mentari Therapeutics has a 52 week low of $5.75 and a 52 week high of $23.30.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on the company. Stifel Nicolaus assumed coverage on Mentari Therapeutics in a report on Tuesday. They issued a "buy" rating and a $30.00 price objective on the stock. Jefferies Financial Group assumed coverage on Mentari Therapeutics in a research report on Tuesday. They issued a "buy" rating and a $30.00 target price for the company. Two equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $30.00.
Check Out Our Latest Research Report on Mentari Therapeutics
Mentari Therapeutics Company Profile
(
Get Free Report)
InMed Pharmaceuticals Inc., a clinical stage pharmaceutical company, researches and develops cannabinoid-based therapies. The company's lead product is INM-755, a cannabinol topical cream, which is in a second Phase I clinical trials for the treatment of epidermolysis bullosa. The company is also involved in developing INM-088, which is in preclinical studies for the treatment of glaucoma; and INM-405 for the treatment of pain. In addition, it engages in the development of cannabinoid-based treatments for various diseases, including dermatology and ocular diseases.
Further Reading
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