Millennium Management LLC lessened its position in shares of Molecular Templates Inc (NASDAQ:MTEM) by 57.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 283,621 shares of the biotechnology company’s stock after selling 380,369 shares during the quarter. Millennium Management LLC owned approximately 0.77% of Molecular Templates worth $1,146,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its position 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 buying an additional 10,076 shares during the period. Rhumbline Advisers bought a new position in shares of Molecular Templates during the 4th quarter worth approximately $53,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Molecular Templates by 136.3% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 28,750 shares of the biotechnology company’s stock worth $116,000 after buying an additional 16,585 shares during the period. Dimensional Fund Advisors LP raised its position in Molecular Templates by 74.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 124,355 shares of the biotechnology company’s stock valued at $670,000 after purchasing an additional 53,089 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Molecular Templates by 78.1% in the 4th quarter. Geode Capital Management LLC now owns 134,069 shares of the biotechnology company’s stock valued at $541,000 after purchasing an additional 58,780 shares during the last quarter. 37.69% of the stock is currently owned by institutional investors.
Shares of MTEM stock traded up $0.11 on Wednesday, reaching $7.60. 60,450 shares of the stock were exchanged, compared to its average volume of 74,421. The company has a market cap of $279.81 million, a P/E ratio of -7.45 and a beta of 3.19. Molecular Templates Inc has a one year low of $3.19 and a one year high of $7.90. The company has a quick ratio of 3.23, a current ratio of 3.24 and a debt-to-equity ratio of 0.14.
Molecular Templates (NASDAQ:MTEM) last released its earnings results on Monday, May 13th. The biotechnology company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.05. The company had revenue of $7.01 million during the quarter, compared to the consensus estimate 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, equities research analysts anticipate that Molecular Templates Inc will post -0.87 earnings per share for the current fiscal year.
Several equities analysts have issued reports on MTEM shares. UBS Group started coverage on Molecular Templates in a research report on Monday, April 29th. They issued a “buy” rating and a $12.00 price objective for the company. Cowen reiterated a “buy” rating on shares of Molecular Templates in a research report on Sunday, March 31st. Zacks Investment Research upgraded Molecular Templates from a “hold” rating to a “buy” rating and set a $6.50 price objective for the company in a research report on Saturday, March 30th. TheStreet upgraded Molecular Templates from a “d” rating to a “c-” rating in a research report on Tuesday, April 2nd. Finally, ValuEngine upgraded Molecular Templates from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Molecular Templates presently has a consensus rating of “Buy” and an average price target of $13.58.
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Molecular Templates Profile
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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