The newly listed clinical-stage biotechnology company, Metsera Inc. MTSR rose 15.01% on Monday as the broader markets declined.
What Happened: While the company reported insider trades over the last month after its listing on Jan. 31, the stock has advanced 7.55% since it started trading on Nasdaq.
Founded in 2022 by Population Health Partners and ARCH Venture Partners, the company saw significant insider purchases on Feb. 3.
According to Benzinga Pro, three insiders acquired a total of $94.22 million worth of Metsera shares at $18 per share. Specifically, Kristina Burow, Managing Director of ARCH Venture Partners, and ARCH Venture Partners itself each acquired 25.75 million shares for $40 million each.
Additionally, Paul L Berns, a Metsera director, purchased 8.31 million shares of common stock for $14.22 million.
Metsera’s CEO, Whit Bernard, is scheduled to present at TD Cowen’s 45th Annual Health Care Conference on Tuesday, March 4.
Why It Matters: While the markets logged in the worst day of the year on Monday, Metsera rose by 15.01%. The Nasdaq Composite index fell by 2.64% to 18,350.19 and the exchange-traded fund tracking this index, Fidelity NASDAQ Composite Index ETF ONEQ slid by 2.76%.
Benzinga tracks four analysts with an average price target of $47 for the stock, reflecting a “buy” rating. Estimates range widely from $38 to $56. Recent ratings from Guggenheim and BofA Securities suggest a potential 64.91% upside.
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