Molecular Templates Inc (NASDAQ:MTEM) has been assigned a consensus rating of “Buy” from the eleven analysts that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $15.00.
A number of equities analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Molecular Templates from a “hold” rating to a “sell” rating in a research note on Friday, August 16th. Cowen reissued a “buy” rating on shares of Molecular Templates in a research report on Tuesday, August 13th. ValuEngine cut shares of Molecular Templates from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. TheStreet cut shares of Molecular Templates from a “c-” rating to a “d” rating in a research report on Monday, August 5th. Finally, BidaskClub raised shares of Molecular Templates from a “sell” rating to a “hold” rating in a research report on Friday.
Shares of NASDAQ MTEM traded up $0.62 during midday trading on Monday, reaching $6.89. 203,800 shares of the company’s stock traded hands, compared to its average volume of 86,303. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.11 and a quick ratio of 3.11. The stock’s 50 day simple moving average is $5.43 and its 200-day simple moving average is $6.56. Molecular Templates has a one year low of $3.19 and a one year high of $8.77.
Molecular Templates (NASDAQ:MTEM) last released its quarterly earnings data on Monday, August 12th. The biotechnology company reported ($0.25) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.02). Molecular Templates had a negative net margin of 113.85% and a negative return on equity of 27.72%. The business had revenue of $5.45 million for the quarter, compared to the consensus estimate of $6.00 million. Sell-side analysts forecast that Molecular Templates will post -0.92 EPS for the current fiscal year.
A number of large investors have recently bought and sold shares of MTEM. BlackRock Inc. lifted its position in Molecular Templates by 51.1% during the second quarter. BlackRock Inc. now owns 1,080,557 shares of the biotechnology company’s stock valued at $9,023,000 after acquiring an additional 365,350 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Molecular Templates during the second quarter valued at approximately $1,682,000. Vanguard Group Inc. lifted its position in Molecular Templates by 10.4% during the second quarter. Vanguard Group Inc. now owns 740,883 shares of the biotechnology company’s stock valued at $6,187,000 after acquiring an additional 69,704 shares during the last quarter. Renaissance Technologies LLC lifted its position in Molecular Templates by 453.7% during the second quarter. Renaissance Technologies LLC now owns 81,400 shares of the biotechnology company’s stock valued at $680,000 after acquiring an additional 66,700 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in Molecular Templates by 557.7% during the second quarter. Wells Fargo & Company MN now owns 78,381 shares of the biotechnology company’s stock valued at $654,000 after acquiring an additional 66,464 shares during the last quarter. 38.07% of the stock is owned by institutional investors.
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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