Molecular Templates (NASDAQ:MTEM) Trading Down 5.6%


Share on StockTwits

Molecular Templates, Inc. (NASDAQ:MTEM) fell 5.6% during trading on Tuesday . The company traded as low as $8.93 and last traded at $8.98. 13,243 shares were traded during mid-day trading, a decline of 97% from the average session volume of 394,459 shares. The stock had previously closed at $9.51.

A number of brokerages recently commented on MTEM. UBS Group started coverage on Molecular Templates in a research report on Monday, February 1st. They issued a “neutral” rating and a $13.00 price target on the stock. Zacks Investment Research upgraded Molecular Templates from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research report on Tuesday, February 23rd. Finally, Jefferies Financial Group lifted their target price on Molecular Templates from $18.00 to $20.00 in a research report on Tuesday.

The stock has a 50 day moving average price of $11.71 and a 200 day moving average price of $10.77. The stock has a market capitalization of $449.26 million, a price-to-earnings ratio of -3.93 and a beta of 2.08. The company has a quick ratio of 3.21, a current ratio of 3.21 and a debt-to-equity ratio of 0.18.

Molecular Templates (NASDAQ:MTEM) last announced its quarterly earnings results on Wednesday, March 17th. The biotechnology company reported ($0.53) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.42) by ($0.11). Molecular Templates had a negative net margin of 428.65% and a negative return on equity of 111.43%. Sell-side analysts forecast that Molecular Templates, Inc. will post -2.09 earnings per share for the current fiscal year.

In related news, major shareholder Target N. V. Biotech acquired 200,000 shares of the business’s stock in a transaction that occurred on Monday, April 5th. The shares were bought at an average cost of $9.44 per share, with a total value of $1,888,000.00. Following the completion of the purchase, the insider now directly owns 8,316,105 shares in the company, valued at $78,504,031.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Target N. V. Biotech acquired 80,000 shares of the business’s stock in a transaction that occurred on Monday, February 1st. The stock was bought at an average cost of $11.69 per share, for a total transaction of $935,200.00. Following the completion of the purchase, the insider now owns 6,540,331 shares of the company’s stock, valued at $76,456,469.39. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 1,860,774 shares of company stock worth $22,347,586. 38.20% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. IHT Wealth Management LLC lifted its stake in Molecular Templates by 4.3% in the fourth quarter. IHT Wealth Management LLC now owns 24,500 shares of the biotechnology company’s stock valued at $230,000 after buying an additional 1,000 shares during the period. Rhumbline Advisers lifted its stake in Molecular Templates by 7.3% in the fourth quarter. Rhumbline Advisers now owns 30,559 shares of the biotechnology company’s stock valued at $287,000 after buying an additional 2,090 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Molecular Templates by 14.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 17,317 shares of the biotechnology company’s stock valued at $163,000 after buying an additional 2,199 shares during the period. JPMorgan Chase & Co. lifted its stake in Molecular Templates by 3.2% in the fourth quarter. JPMorgan Chase & Co. now owns 87,743 shares of the biotechnology company’s stock valued at $823,000 after buying an additional 2,690 shares during the period. Finally, California State Teachers Retirement System lifted its stake in Molecular Templates by 9.6% in the third quarter. California State Teachers Retirement System now owns 40,071 shares of the biotechnology company’s stock valued at $438,000 after buying an additional 3,520 shares during the period. 60.73% of the stock is currently owned by hedge funds and other institutional investors.

Molecular Templates Company Profile (NASDAQ:MTEM)

Molecular Templates, Inc engages in the discovery, development, and commercialization of biologic therapeutics for the treatment of cancers and other serious diseases. It utilizes its proprietary biologic drug platform to design and generate engineered toxin bodies, or ETBs. The company was founded by Eric E.

Read More: How to Trade Using Analysts Ratings

Receive News & Ratings for Molecular Templates Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Molecular Templates and related companies with MarketBeat.com's FREE daily email newsletter.