9 Meters Biopharma, Inc.

9 Meters Biopharma, Inc. (NASDAQ: NMTR) is a clinical-stage company focused on treating rare or debilitating digestive diseases. Its primary products are vurolenatide, an innovative Phase 2 GLP-1 agonist for short bowel syndrome (SBS), and larazotide, a regulator for non-responsive celiac disease.

Key Highlights

• The company is yet to generate any revenues.
• Its net loss for Q3FY21 (ended September 30, 2021) increased to USD 13.5 million from USD 8.3 million reported in Q3FY20.
• On November 10, 2021, NMTR signed a collaboration agreement with Gustave Roussy, a leading cancer center located in Villejuif, France. Gustave Roussy will use NMTR's small molecule tight junction microbiome modulator NM-102 for preventing gut microbial metabolites and antigens from trafficking into the systemic circulation.
• The stock is currently trading below its crucial short-term (50-day) and long-term (200-day) SMA support levels, and its RSI Index is at 29.16.
• It is currently trading close to the lower end of its 52-week range of USD 0.70 to USD 2.26.
• NMTR's stock price corrected 40.98% and 48.83% in the past six and nine months, respectively.

Technical Price Chart (as of December 13, 2021). Analysis by Kalkine

Conclusion: Considering the company's loss-making status, lacklustre fundamentals, and other technical indicators, we recommend an "Avoid" rating on the stock at the current price of USD 0.8853, down 2.61%, as of December 13, 2021, at 12:58 PM ET.

*The reference data in this report has been partly sourced from REFINITIV.