Molecular Templates (MTEM) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Molecular Templates (NASDAQ:MTEM) from a sell rating to a hold rating in a research note issued to investors on Tuesday.

According to Zacks, “Molecular Templates Inc. is focused on the discovery, development and commercialization of next-generation immunotoxins called Engineered Toxin Bodies for the treatment of cancers and other serious diseases. Molecular Templates Inc., formerly known as Threshold Pharmaceuticals Inc., is headquartered in Austin, United States. “

A number of other brokerages also recently issued reports on MTEM. Laidlaw assumed coverage on shares of Molecular Templates in a research report on Monday, October 8th. They issued a buy rating and a $18.00 price objective for the company. ValuEngine downgraded shares of Molecular Templates from a hold rating to a sell rating in a research report on Tuesday, September 4th.

MTEM opened at $5.36 on Tuesday. The company has a current ratio of 3.33, a quick ratio of 3.33 and a debt-to-equity ratio of 0.05. Molecular Templates has a fifty-two week low of $4.00 and a fifty-two week high of $13.25. The stock has a market capitalization of $145.88 million, a P/E ratio of -2.47 and a beta of 3.01.

Molecular Templates (NASDAQ:MTEM) last posted its earnings results on Thursday, August 9th. The biotechnology company reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.25) by $0.61. Molecular Templates had a negative net margin of 509.53% and a negative return on equity of 22.67%. The company had revenue of $1.37 million for the quarter. Equities analysts forecast that Molecular Templates will post -1.57 EPS for the current fiscal year.

In other news, Director Scott D. Morenstein acquired 545,454 shares of Molecular Templates stock in a transaction on Tuesday, September 25th. The stock was acquired at an average cost of $5.50 per share, with a total value of $2,999,997.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David Hirsch acquired 365,000 shares of Molecular Templates stock in a transaction on Friday, September 21st. The stock was purchased at an average cost of $5.50 per share, with a total value of $2,007,500.00. The disclosure for this purchase can be found here. Corporate insiders own 52.00% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Northern Trust Corp grew its position in Molecular Templates by 338.9% in the 2nd quarter. Northern Trust Corp now owns 97,228 shares of the biotechnology company’s stock worth $509,000 after purchasing an additional 75,076 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Molecular Templates in the 2nd quarter worth about $138,000. Nexthera Capital LP bought a new stake in Molecular Templates in the 2nd quarter worth about $902,000. Renaissance Technologies LLC grew its position in Molecular Templates by 26.9% in the 2nd quarter. Renaissance Technologies LLC now owns 177,316 shares of the biotechnology company’s stock worth $927,000 after purchasing an additional 37,600 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Molecular Templates by 168.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 71,266 shares of the biotechnology company’s stock worth $373,000 after purchasing an additional 44,673 shares in the last quarter. 21.16% of the stock is owned by institutional investors and hedge funds.

Molecular Templates Company Profile

Molecular Templates, Inc, a clinical stage biopharmaceutical 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 I clinical trial for the treatment of relapsed/refractory non-Hodgkin's lymphoma and B-cell lymphoma.

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