Melinta Therapeutics Inc (MLNT) Sees Significant Increase in Short Interest

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.

ILLEGAL ACTIVITY WARNING: This piece of content was reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this piece of content on another site, it was illegally stolen and republished in violation of US and international copyright & trademark legislation. The legal version of this piece of content can be viewed at https://www.dispatchtribunal.com/2019/04/13/melinta-therapeutics-inc-mlnt-sees-significant-increase-in-short-interest.html.

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.

Read More: New Google Finance Tool and Screening Stocks

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