Melinta Therapeutics Inc (NASDAQ:MLNT) was the recipient of a significant growth in short interest in the month of March. As of March 29th, there was short interest totalling 1,590,418 shares, a growth of 55.1% from the March 15th total of 1,025,344 shares. Approximately 22.0% of the shares of the company are sold short. Based on an average daily trading volume, of 388,846 shares, the short-interest ratio is currently 4.1 days.
Several large investors have recently added to or reduced their stakes in the company. Marshall Wace North America L.P. acquired a new position in shares of Melinta Therapeutics in the 3rd quarter valued at $48,000. Rhumbline Advisers grew its holdings in Melinta Therapeutics by 59.1% in the 4th quarter. Rhumbline Advisers now owns 44,129 shares of the biotechnology company’s stock valued at $35,000 after buying an additional 16,400 shares during the last quarter. Condor Capital Management acquired a new stake in Melinta Therapeutics in the 4th quarter valued at approximately $55,000. TIAA CREF Investment Management LLC grew its holdings in Melinta Therapeutics by 23.7% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 90,646 shares of the biotechnology company’s stock valued at $358,000 after buying an additional 17,360 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Melinta Therapeutics by 39.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 128,371 shares of the biotechnology company’s stock valued at $508,000 after buying an additional 36,341 shares during the last quarter.
NASDAQ:MLNT opened at $4.58 on Friday. Melinta Therapeutics has a 1 year low of $3.20 and a 1 year high of $46.00. The firm has a market capitalization of $52.00 million, a PE ratio of -0.26 and a beta of 2.22. The company has a quick ratio of 0.81, a current ratio of 1.12 and a debt-to-equity ratio of 0.58.
Several equities research analysts have weighed in on MLNT shares. Zacks Investment Research lowered Melinta Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, January 9th. ValuEngine lowered Melinta Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, February 23rd. Gabelli lowered Melinta Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, December 20th. Finally, LADENBURG THALM/SH SH reaffirmed a “buy” rating and issued a $70.00 target price on shares of Melinta Therapeutics in a research report on Tuesday, December 18th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $55.00.
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Melinta Therapeutics Company Profile
Melinta Therapeutics, Inc, a commercial-stage pharmaceutical company, discovers, develops, and commercializes various anti-infectives for the treatment of bacterial infectious diseases in North America. It offers Baxdela, a monotherapy treatment of adult patients with acute bacterial skin or skin structure infections (ABSSSIs); Vabomere, an IV antibiotic used in treatment of gram-negative infections; Orbactiv, an IV antibiotic of the lipoglycopeptide class for the treatment of adult patients with ABSSSIs; and Minocin, a IV antibiotic of the tetracycline class with activity against gram-positive and gram-negative pathogens.
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