Molecular Templates, Inc. (NASDAQ:MTEM) Director Buys $55,180.00 in Stock

Molecular Templates, Inc. (NASDAQ:MTEMGet Rating) Director Kevin M. Lalande purchased 62,000 shares of the company’s stock in a transaction on Wednesday, June 15th. The shares were bought at an average price of $0.89 per share, with a total value of $55,180.00. Following the completion of the transaction, the director now owns 222,000 shares of the company’s stock, valued at $197,580. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Shares of MTEM stock traded up $0.02 during trading on Tuesday, reaching $0.86. The company’s stock had a trading volume of 314,673 shares, compared to its average volume of 224,318. The company has a current ratio of 2.94, a quick ratio of 2.94 and a debt-to-equity ratio of 0.75. Molecular Templates, Inc. has a 1-year low of $0.76 and a 1-year high of $8.68. The stock’s 50-day moving average price is $1.42 and its 200 day moving average price is $2.54.

Molecular Templates (NASDAQ:MTEMGet Rating) last posted its quarterly earnings results on Thursday, May 12th. The biotechnology company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.04. Molecular Templates had a negative net margin of 177.06% and a negative return on equity of 110.16%. The company had revenue of $8.49 million during the quarter, compared to analysts’ expectations of $6.88 million. Equities research analysts predict that Molecular Templates, Inc. will post -1.62 EPS for the current fiscal year.

A number of research analysts recently weighed in on the stock. Barclays dropped their price objective on shares of Molecular Templates from $8.00 to $4.50 and set an “overweight” rating for the company in a report on Wednesday, March 30th. Bank of America cut shares of Molecular Templates from a “buy” rating to an “underperform” rating and set a $1.50 price objective for the company. in a report on Friday, May 27th. Finally, Stifel Nicolaus dropped their price objective on shares of Molecular Templates from $11.00 to $9.00 in a report on Friday, May 13th.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bellevue Group AG grew its holdings in Molecular Templates by 1.8% during the 1st quarter. Bellevue Group AG now owns 11,078,003 shares of the biotechnology company’s stock worth $38,219,000 after acquiring an additional 200,000 shares in the last quarter. BlackRock Inc. lifted its position in shares of Molecular Templates by 8.7% during the 4th quarter. BlackRock Inc. now owns 2,850,901 shares of the biotechnology company’s stock worth $11,175,000 after buying an additional 228,321 shares during the last quarter. Frazier Life Sciences Management L.P. purchased a new stake in shares of Molecular Templates during the 1st quarter worth approximately $4,740,000. Adage Capital Partners GP L.L.C. lifted its position in shares of Molecular Templates by 18.2% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,200,000 shares of the biotechnology company’s stock worth $4,704,000 after buying an additional 185,000 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Molecular Templates by 4.1% during the 4th quarter. Geode Capital Management LLC now owns 683,792 shares of the biotechnology company’s stock worth $2,680,000 after buying an additional 26,884 shares during the last quarter. Institutional investors own 88.72% of the company’s stock.

Molecular Templates Company Profile (Get Rating)

Molecular Templates, Inc, a clinical stage biopharmaceutical company, focuses on the discovery and development of biologic therapeutics for the treatment of cancer and other serious diseases. The company primarily develops a pipeline of therapies through its proprietary biologic engineered toxin body (ETB) drug platform.

Further Reading

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