Novartis Sells ~259K Momenta Phama (MNTA) Shares, Enters Sales Plan

August 10, 2016 5:19 PM EDT
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In an amended 13D filing on Momenta Phama (NASDAQ: MNTA), holder Novartis (NYSE: NVS) disclosed it recently sold 258,733 shares of MNTA and entered into a sale plan. Novartis continues to hold 4,449,946 shares.

From the filing:

On August 8, 2016, the Reporting Persons entered into a Sales Plan (as defined in Item 6 below) pursuant to which the Investor has instructed the sale of the shares of Common Stock of the Issuer which it owns, subject to terms and conditions relating to, among other things, the price of such Common Stock. The term of the Sales Plan ends on January 26, 2017.

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