Molecular Templates (NASDAQ:MTEM) Trading Down 2.5%

Molecular Templates Inc (NASDAQ:MTEM) fell 2.5% during mid-day trading on Tuesday . The company traded as low as $10.64 and last traded at $11.38, 8,006 shares were traded during trading. A decline of 98% from the average session volume of 368,893 shares. The stock had previously closed at $11.67.

A number of research analysts have weighed in on the stock. Cowen reaffirmed a “buy” rating on shares of Molecular Templates in a research note on Wednesday, November 13th. BidaskClub raised shares of Molecular Templates from a “hold” rating to a “buy” rating in a research report on Saturday, November 23rd. Zacks Investment Research lowered shares of Molecular Templates from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. ValuEngine lowered shares of Molecular Templates from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. Finally, TheStreet cut Molecular Templates from a “c-” rating to a “d” rating in a report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating and six have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $12.70.

The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.66 and a current ratio of 2.66. The business has a 50-day simple moving average of $8.88 and a two-hundred day simple moving average of $7.29. The stock has a market cap of $425.16 million, a price-to-earnings ratio of -11.17 and a beta of 3.16.

Molecular Templates (NASDAQ:MTEM) last posted its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($0.43) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.19). The business had revenue of $3.62 million during the quarter, compared to analyst estimates of $6.00 million. Molecular Templates had a negative net margin of 289.90% and a negative return on equity of 44.86%. On average, analysts expect that Molecular Templates Inc will post -1.17 earnings per share for the current fiscal year.

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In related news, Director Scott D. Morenstein purchased 468,750 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was purchased at an average cost of $8.00 per share, for a total transaction of $3,750,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Longitude Capital Partners Iii purchased 937,000 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was bought at an average price of $8.00 per share, with a total value of $7,496,000.00. The disclosure for this purchase can be found here. 42.60% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Molecular Templates by 7.8% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 29,310 shares of the biotechnology company’s stock worth $245,000 after acquiring an additional 2,125 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Molecular Templates by 557.7% in the second quarter. Wells Fargo & Company MN now owns 78,381 shares of the biotechnology company’s stock valued at $654,000 after buying an additional 66,464 shares during the last quarter. Citadel Advisors LLC acquired a new stake in shares of Molecular Templates in the second quarter valued at approximately $111,000. Chicago Equity Partners LLC acquired a new stake in shares of Molecular Templates in the second quarter valued at approximately $128,000. Finally, Panagora Asset Management Inc. grew its position in shares of Molecular Templates by 39.9% during the second quarter. Panagora Asset Management Inc. now owns 127,967 shares of the biotechnology company’s stock worth $1,069,000 after acquiring an additional 36,488 shares during the last quarter. Institutional investors own 38.98% of the company’s stock.

About Molecular Templates (NASDAQ:MTEM)

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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