Does Wall Street Rate 9 Meters Biopharma Inc. (NMTR) Shares A Buy?

As of Thursday close, 9 Meters Biopharma Inc.’s (NASDAQ:NMTR) stock was up $0.02, moving up 7.95 percent to $0.26. The average number of shares traded per day over the past five days has been 3,324,100 shares. 4 times new highs have been achieved over the past 5 days, with a $0.0468 gain in that time frame. In the last twenty days, the average volume was 3,553,755, while in the previous 50 days, it was 4,945,630.

Since last month, NMTR stock rose 18.28%. Shares of the company fell to $0.1974 on 07/06/22, the lowest level in the past month. A 52-week high of $1.46 was reached on 01/04/22 after having rallying from a 52-week low of $0.20. Since the beginning of this year, NMTR’s stock price has dropped by -73.35% or -$0.7179, and marked a new high 2 times. However, the stock has declined by -82.14% since its 52-week high.

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9 Meters Biopharma Inc. (NMTR) last reported insider trading activity 30 days ago on Jul 06. Temperato John, the Chief Executive Officer of the company, purchased of 125,000 shares for $0.23 on Jul 06. It resulted in a $28,462 investment by the insider. Sirgo Mark A added 175,000 shares at an average price of $0.25 on Jul 01. The insider now owns 1,454,045 shares following the transaction. On May 23, Director Constantino Michael T. bought 16,000 shares at $0.48 apiece. The transaction was valued at $7,608.

Financial Health

In the three months ended March 30, 9 Meters Biopharma Inc.’s quick ratio stood at 4.80, while its current ratio was 4.80, showing that the company is able to pay off its debt. Based on annual data, NMTR earned $47000.0 in gross profit and brought in $36.76 million in revenue.

According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. While analysts expected 9 Meters Biopharma Inc. to report -$0.04 quarterly earnings, the actual figure was -$0.04 per share. During the quarter, the company generated -$11.36 million in EBITDA. The liabilities of 9 Meters Biopharma Inc. were 8.32 million at the end of its most recent quarter ended March 30, and its total debt was $0.15 million. The value of shareholders’ equity is $259.11 million.

Technical Picture

This quick technical analysis looks at 9 Meters Biopharma Inc.’s (NMTR) price momentum. With a historical volatility rate of 96.92%, the RSI 9-day stood at 56.68% on 04 August.

With respect to its five-day moving average, the current 9 Meters Biopharma Inc. price is up by +21.87% percent or $0.0468. At present, NMTR shares trade +16.07% above its 20-day simple moving average and -52.63% percent below its 100-day simple moving average. However, the stock is currently trading approximately -45.47% below its SMA50 and -79.30% below its SMA200.

Stochastic coefficient K was 66.82% and Stochastic coefficient D was 51.63%, while ATR was 0.0293. Given the Stochastic reading of 65.20% for the 14-day period, the RSI (14) reading has been calculated as 48.17%. As of today, the MACD Oscillator reading stands at 0.0195, while the 14-day reading stands at 0.0155.

Analyst Ratings

BMO Capital Markets launched its rating on 9 Meters Biopharma Inc. (NASDAQ: NMTR) to an Outperform in a note to investors on July 08, 2021. 9 Meters Biopharma Inc. (NMTR) has been rated Buy by analysts. According to 0 brokerage firms, NMTR is a sell, and 1 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate 9 Meters Biopharma Inc. stock as buy, with 5 recommending it as overweight.

With a median target price of $3.00, the current consensus forecast for the stock is $1.00 – $4.00. Based on these forecasts, analysts predict 9 Meters Biopharma Inc. (NMTR) will achieve an average price target of $2.80.


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