Zacks Investment Research cut shares of Clementia Pharmaceuticals (NASDAQ:CMTA) from a hold rating to a sell rating in a research note issued to investors on Wednesday.
According to Zacks, “Clementia Pharmaceuticals Inc. is a clinical stage biopharmaceutical company. It develops disease-modifying treatments for patients suffering from debilitating bone and other diseases. The company’s lead product consists of palovarotene, a novel RAR? agonist, to treat fibrodysplasia ossificans progressiva, multiple osteochondroma and other diseases. Clementia Pharmaceuticals Inc. is based in Montreal, Canada. “
Separately, Wedbush reissued an outperform rating and issued a $26.00 target price on shares of Clementia Pharmaceuticals in a research report on Tuesday, November 14th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $27.00.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Victory Capital Management Inc. raised its position in Clementia Pharmaceuticals by 12.7% in the fourth quarter. Victory Capital Management Inc. now owns 34,710 shares of the company’s stock valued at $659,000 after purchasing an additional 3,920 shares during the period. Birchview Capital LP purchased a new stake in Clementia Pharmaceuticals in the third quarter valued at approximately $372,000. J. Goldman & Co LP purchased a new stake in Clementia Pharmaceuticals in the fourth quarter valued at approximately $488,000. Point72 Asset Management L.P. purchased a new stake in Clementia Pharmaceuticals in the third quarter valued at approximately $506,000. Finally, Sectoral Asset Management Inc purchased a new stake in Clementia Pharmaceuticals in the third quarter valued at approximately $512,000. 70.53% of the stock is currently owned by institutional investors.
Clementia Pharmaceuticals Company Profile
Clementia Pharmaceuticals Inc is a clinical stage biopharmaceutical company. The Company is engaged in developing disease-modifying treatments for patients suffering from debilitating bone and other diseases with high unmet medical need. Its lead product candidate, palovarotene, is an oral small molecule that binds and activates retinoic acid receptor gamma (an RARg agonist), and has activity in preventing abnormal new bone formation as well as scar tissue formation (or fibrosis) in a variety of tissues in animal models.
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