Molecular Templates (NASDAQ:MTEM) Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Molecular Templates (NASDAQ:MTEM) from a buy rating to a hold rating in a research note released on Tuesday, Zacks.com reports.

According to Zacks, “Molecular Templates Inc. is focused on the discovery, development and commercialization of next-generation immunotoxins called Engineered Toxin Bodies for the treatment of cancers and other serious diseases. Molecular Templates Inc., formerly known as Threshold Pharmaceuticals Inc., is headquartered in Austin, United States. “

A number of other research analysts also recently weighed in on MTEM. BidaskClub upgraded shares of Molecular Templates from a buy rating to a strong-buy rating in a report on Wednesday, February 5th. Cowen restated a buy rating on shares of Molecular Templates in a report on Wednesday, November 13th. Finally, ValuEngine downgraded shares of Molecular Templates from a sell rating to a strong sell rating in a report on Friday, January 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Molecular Templates currently has a consensus rating of Buy and a consensus price target of $14.00.

Molecular Templates stock opened at $14.50 on Tuesday. The company has a market capitalization of $536.05 million, a P/E ratio of -8.90 and a beta of 3.33. The firm’s fifty day simple moving average is $14.27 and its 200-day simple moving average is $9.46. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.26. Molecular Templates has a 1-year low of $4.51 and a 1-year high of $16.75.

Molecular Templates (NASDAQ:MTEM) last released its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.19). The business had revenue of $3.62 million for the quarter, compared to the consensus estimate of $6.00 million. Molecular Templates had a negative net margin of 289.90% and a negative return on equity of 44.86%. On average, equities research analysts predict that Molecular Templates will post -1.16 earnings per share for the current year.

In other news, major shareholder Longitude Capital Partners Iii bought 937,000 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average cost of $8.00 per share, for a total transaction of $7,496,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Scott D. Morenstein bought 468,750 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was purchased at an average price of $8.00 per share, for a total transaction of $3,750,000.00. The disclosure for this purchase can be found here. Company insiders own 42.60% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Bank of Montreal Can grew its stake in Molecular Templates by 21.9% in the 4th quarter. Bank of Montreal Can now owns 3,716 shares of the biotechnology company’s stock valued at $52,000 after buying an additional 668 shares during the last quarter. Victory Capital Management Inc. grew its stake in Molecular Templates by 31.3% in the 4th quarter. Victory Capital Management Inc. now owns 5,129 shares of the biotechnology company’s stock valued at $77,000 after buying an additional 1,223 shares during the last quarter. Citigroup Inc. grew its stake in Molecular Templates by 83.9% in the 4th quarter. Citigroup Inc. now owns 3,530 shares of the biotechnology company’s stock valued at $50,000 after buying an additional 1,611 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Molecular Templates by 4.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 45,721 shares of the biotechnology company’s stock valued at $640,000 after buying an additional 1,936 shares during the last quarter. Finally, Meeder Asset Management Inc. grew its stake in Molecular Templates by 99.2% in the 4th quarter. Meeder Asset Management Inc. now owns 4,584 shares of the biotechnology company’s stock valued at $65,000 after buying an additional 2,283 shares during the last quarter. Institutional investors and hedge funds own 38.94% of the company’s stock.

About Molecular Templates

Molecular Templates, Inc, a clinical stage oncology company, focuses on the discovery and development of biologic therapeutics for the treatment of cancer and other diseases. The company primarily develops a pipeline of engineered toxin bodies. Its lead drug candidate is MT-3724 that is in a Phase II clinical trial for the treatment of relapsed/refractory diffuse large B-cell lymphoma; and Phase II clinical trial for treating non-Hodgkin's lymphoma.

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