Molecular Templates, Inc. (NASDAQ:MTEM) was the recipient of a large growth in short interest in October. As of October 30th, there was short interest totalling 1,860,000 shares, a growth of 14.1% from the October 15th total of 1,630,000 shares. Based on an average trading volume of 355,000 shares, the short-interest ratio is currently 5.2 days. Approximately 5.1% of the shares of the company are sold short.
Several equities research analysts have recently weighed in on MTEM shares. BidaskClub upgraded Molecular Templates from a "sell" rating to a "hold" rating in a research note on Friday, November 6th. Jefferies Financial Group started coverage on Molecular Templates in a report on Tuesday, September 8th. They issued a "buy" rating and a $21.00 target price on the stock. Zacks Investment Research downgraded Molecular Templates from a "hold" rating to a "sell" rating in a report on Thursday, August 13th. Oppenheimer reissued a "buy" rating on shares of Molecular Templates in a report on Friday, August 7th. Finally, ValuEngine raised Molecular Templates from a "buy" rating to a "strong-buy" rating in a report on Monday, November 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. Molecular Templates currently has an average rating of "Buy" and an average price target of $20.80.
In other news, major shareholder Longitude Capital Partners Iii sold 3,496 shares of the company's stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $10.75, for a total value of $37,582.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Kevin M. Lalande sold 500,000 shares of the company's stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $13.05, for a total value of $6,525,000.00. The disclosure for this sale can be found here. 38.20% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of MTEM. Great West Life Assurance Co. Can purchased a new position in shares of Molecular Templates during the 2nd quarter valued at approximately $31,000. Bank of Montreal Can lifted its position in shares of Molecular Templates by 129.3% in the second quarter. Bank of Montreal Can now owns 3,563 shares of the biotechnology company's stock worth $46,000 after buying an additional 2,009 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Molecular Templates in the second quarter worth about $81,000. GSA Capital Partners LLP acquired a new stake in shares of Molecular Templates in the third quarter worth about $127,000. Finally, Bank of America Corp DE lifted its position in shares of Molecular Templates by 125.8% in the second quarter. Bank of America Corp DE now owns 11,832 shares of the biotechnology company's stock worth $163,000 after buying an additional 6,592 shares during the last quarter. Institutional investors and hedge funds own 51.56% of the company's stock.
Shares of NASDAQ:MTEM traded down $0.37 during mid-day trading on Friday, reaching $9.00. 884,276 shares of the company's stock were exchanged, compared to its average volume of 358,862. The firm has a market capitalization of $449.68 million, a price-to-earnings ratio of -4.41 and a beta of 2.53. The business's fifty day moving average price is $10.26 and its 200-day moving average price is $12.47. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.61 and a current ratio of 2.61. Molecular Templates has a twelve month low of $7.51 and a twelve month high of $19.12.
Molecular Templates (NASDAQ:MTEM) last released its earnings results on Thursday, November 5th. The biotechnology company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.57) by $0.10. Molecular Templates had a negative net margin of 514.48% and a negative return on equity of 113.62%. Analysts predict that Molecular Templates will post -2.2 EPS for the current fiscal year.
Molecular Templates Company Profile
Molecular Templates, Inc, a clinical stage biopharmaceutical company, focuses on the discovery and development of biologic therapeutics for the treatment of cancer and other diseases. Its proprietary drug platform technology is engineered toxin bodies. The company's lead drug candidate is MT-3724 that is in a Phase II clinical trial for the treatment of relapsed and refractory diffuse large B-cell lymphoma; and Phase II clinical trial for treating non-Hodgkin's lymphoma.
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