Molecular Templates Inc. (MTEM) Stake Boosted by Alps Advisors Inc.

Alps Advisors Inc. grew its holdings in Molecular Templates Inc. (NASDAQ:MTEM) by 21.0% during the 1st quarter, Holdings Channel reports. The firm owned 36,052 shares of the biotechnology company’s stock after buying an additional 6,265 shares during the period. Alps Advisors Inc.’s holdings in Molecular Templates were worth $288,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in MTEM. Wells Fargo & Company MN lifted its stake in shares of Molecular Templates by 1,744.7% in the 4th quarter. Wells Fargo & Company MN now owns 10,035 shares of the biotechnology company’s stock valued at $101,000 after purchasing an additional 9,491 shares during the last quarter. BlueCrest Capital Management Ltd acquired a new position in shares of Molecular Templates in the 4th quarter valued at $157,000. Two Sigma Investments LP acquired a new position in shares of Molecular Templates in the 4th quarter valued at $131,000. Paloma Partners Management Co acquired a new position in shares of Molecular Templates in the 4th quarter valued at $113,000. Finally, Millennium Management LLC acquired a new position in shares of Molecular Templates in the 4th quarter valued at $722,000. 15.88% of the stock is currently owned by institutional investors and hedge funds.

Shares of Molecular Templates stock opened at $7.34 on Friday. Molecular Templates Inc. has a 52 week low of $8.29 and a 52 week high of $8.40. The firm has a market capitalization of $220.27 million, a PE ratio of -3.48 and a beta of 3.15. The company has a current ratio of 4.54, a quick ratio of 5.79 and a debt-to-equity ratio of 0.04.

Molecular Templates (NASDAQ:MTEM) last posted its earnings results on Monday, May 14th. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.07). Molecular Templates had a negative return on equity of 40.24% and a negative net margin of 514.16%. The firm had revenue of $0.48 million for the quarter. equities analysts forecast that Molecular Templates Inc. will post -1.12 earnings per share for the current fiscal year.

MTEM has been the topic of several recent analyst reports. ValuEngine raised Molecular Templates from a “sell” rating to a “hold” rating in a research note on Monday, April 2nd. BidaskClub lowered Molecular Templates from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 31st. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $5.20.

Molecular Templates 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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Institutional Ownership by Quarter for Molecular Templates (NASDAQ:MTEM)

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