Molecular Templates (MTEM) Upgraded at ValuEngine

ValuEngine upgraded shares of Molecular Templates (NASDAQ:MTEM) from a sell rating to a hold rating in a research report released on Thursday morning.

MTEM has been the subject of several other research reports. Zacks Investment Research raised shares of Molecular Templates from a sell rating to a hold rating in a research note on Tuesday, October 9th. Laidlaw assumed coverage on shares of Molecular Templates in a research note on Monday, October 8th. They issued a buy rating and a $18.00 price objective for the company.

Shares of NASDAQ MTEM traded up $0.06 during midday trading on Thursday, hitting $4.45. The company’s stock had a trading volume of 62,853 shares, compared to its average volume of 176,684. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.33 and a quick ratio of 3.33. Molecular Templates has a 1 year low of $3.87 and a 1 year high of $13.25.

Molecular Templates (NASDAQ:MTEM) last posted its quarterly earnings data on Thursday, August 9th. The biotechnology company reported $0.36 EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $1.37 million during the quarter.

In other Molecular Templates news, Director David Hirsch acquired 365,000 shares of the stock in a transaction dated Friday, September 21st. The stock was acquired at an average price of $5.50 per share, with a total value of $2,007,500.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Scott D. Morenstein acquired 545,454 shares of the stock in a transaction dated 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 disclosure for this purchase can be found here. Company insiders own 52.00% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Northern Trust Corp lifted its stake in Molecular Templates by 36.7% in the first quarter. Northern Trust Corp now owns 22,152 shares of the biotechnology company’s stock worth $177,000 after acquiring an additional 5,948 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Molecular Templates by 41.4% in the first quarter. JPMorgan Chase & Co. now owns 50,020 shares of the biotechnology company’s stock worth $400,000 after acquiring an additional 14,635 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Molecular Templates in the second quarter worth approximately $138,000. Dimensional Fund Advisors LP purchased a new position in Molecular Templates in the first quarter worth approximately $213,000. Finally, Renaissance Technologies LLC lifted its stake in Molecular Templates by 26.9% in the second quarter. Renaissance Technologies LLC now owns 177,316 shares of the biotechnology company’s stock worth $927,000 after acquiring an additional 37,600 shares during the last quarter. Institutional investors own 16.24% of the company’s stock.

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.

Read More: Price to Earnings Ratio (PE) Basics

To view ValuEngine’s full report, visit ValuEngine’s official website.

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