ValuEngine downgraded shares of Molecular Templates (NASDAQ:MTEM) from a hold rating to a sell rating in a research note issued to investors on Thursday morning, ValuEngine reports.
Other analysts have also issued research reports about the company. BidaskClub lowered Molecular Templates from a hold rating to a sell rating in a report on Friday, July 26th. UBS Group assumed coverage on Molecular Templates in a report on Monday, April 29th. They issued a buy rating and a $12.00 target price on the stock. Finally, Zacks Investment Research lowered Molecular Templates from a buy rating to a hold rating in a report on Wednesday, June 5th. Two analysts have rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $13.58.
MTEM traded down $0.25 during midday trading on Thursday, reaching $6.49. The company’s stock had a trading volume of 66,693 shares, compared to its average volume of 71,653. The stock has a market capitalization of $238.64 million, a PE ratio of -6.36 and a beta of 2.77. The firm has a fifty day simple moving average of $7.52. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.24 and a current ratio of 3.24. Molecular Templates has a twelve month low of $3.19 and a twelve month high of $8.77.
Molecular Templates (NASDAQ:MTEM) last released its earnings results on Monday, May 13th. The biotechnology company reported ($0.17) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $0.05. The firm had revenue of $7.01 million for the quarter, compared to analyst estimates of $6.00 million. Molecular Templates had a negative return on equity of 9.14% and a negative net margin of 42.15%. As a group, sell-side analysts expect that Molecular Templates will post -0.87 earnings per share for the current year.
Large investors have recently made changes to their positions in the company. Private Advisors LLC acquired a new stake in shares of Molecular Templates during the 1st quarter worth approximately $98,000. Strs Ohio acquired a new stake in shares of Molecular Templates during the 2nd quarter worth approximately $121,000. Chicago Equity Partners LLC acquired a new stake in shares of Molecular Templates during the 2nd quarter worth approximately $128,000. Bank of New York Mellon Corp grew its holdings in shares of Molecular Templates by 37.6% during the 4th quarter. Bank of New York Mellon Corp now owns 36,854 shares of the biotechnology company’s stock worth $149,000 after purchasing an additional 10,076 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of Molecular Templates by 56.7% during the 1st quarter. Marshall Wace LLP now owns 38,493 shares of the biotechnology company’s stock worth $224,000 after purchasing an additional 13,925 shares in the last quarter. 36.52% of the stock is currently 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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