In premarket trading on Tuesday, 9 Meters Biopharma Inc. (NMTR) shares were up 3.51% at $1.18. At the end of last trading session, 9 Meters stock closed at $1.14, down 5.0%. A trading volume of 13.59 million shares was recorded by NMTR stock in the last trading session, much higher than the average daily volume of 4.2 million shares for the previous 50 days.
In the past five days, NMTR’s stock has retreated -18.57%. Over the past month, the stock has fallen -10.24%. In the last three months, the price of NMTR stock has dropped by 13.64%, but has gained 32.71 percent so far this year. After joining the Russell index last session, NMTR stock has been rising.
Has Russell index’s inclusion impacted NMTR?
9 Meters Biopharma focuses on rare and unmet gastroenterology needs. NMTR will enroll vurolenatide, a proprietary long-acting GLP-1 agonist, in a Phase 2 clinical trial for short bowel syndrome (SBS). SBS is NMTR’s focal point due to its rarity and orphan status, as well as its Phase 3 tight junction regulator, which is being evaluated for signs and symptoms of non-responsive celiac disease.
At the conclusion of the Russell US Indexes annual reconstitution, 9 Meters joined the Russell 3000 Index and the Russell 2000 Index for broad-market and small-cap companies, respectively.
- On June 28, 2021, after the opening of the US equities markets, these updated indices took effect.
- The Russell indexes are reconstituted annually and contain 4,000 of the largest US stocks as of May 7, 2021, ranked by market capitalization.
- NMTR’s achievement of adding 9 Meters to this Russell Index is an indication of both the perseverance and achievement of the team as it continues to work towards becoming the treatment leader for rare, unmet gastroenterology disorders.
- As NMTR gains momentum towards several milestones, inclusion in the Russell Indexes will increase its visibility among the international investment community.
NMTR stepping towards its goals:
9 Meters Biopharma (NMTR) recently initiated its Phase 2 trial of vurolenatide, a proprietary long-acting glucagon-like peptide-1 (GLP-1) agonist in adults with SBS. 9 Meters Biopharma is launching a Phase 2 trial of vurolenatide, which represents an important accomplishment for not only the company, but also for patients and families suffering from the devastating effects of SBS, including chronic diarrhea. As a result, NMTR may be a step closer to having longer-acting, more rapid-onset therapy and with a lower safety profile than any currently available therapy, potentially for the benefit of patients.
