Molecular Templates, Inc. (NASDAQ:MTEM) Director Purchases $91,000.00 in Stock

Molecular Templates, Inc. (NASDAQ:MTEMGet Rating) Director Kevin M. Lalande bought 100,000 shares of the company’s stock in a transaction that occurred on Monday, June 13th. The shares were acquired at an average price of $0.91 per share, for a total transaction of $91,000.00. Following the completion of the purchase, the director now owns 100,000 shares in the company, valued at $91,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

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

Several analysts have weighed in on MTEM shares. Stifel Nicolaus dropped their price target on Molecular Templates from $11.00 to $9.00 in a research note on Friday, May 13th. Barclays dropped their price target on Molecular Templates from $8.00 to $4.50 and set an “overweight” rating on the stock in a research note on Wednesday, March 30th. Finally, Bank of America downgraded Molecular Templates from a “buy” rating to an “underperform” rating and set a $1.50 price target on the stock. in a research note on Friday, May 27th.

Several institutional investors and hedge funds have recently modified their holdings of MTEM. Frazier Life Sciences Management L.P. purchased a new stake in shares of Molecular Templates in the first quarter worth about $4,740,000. Morgan Stanley raised its holdings in Molecular Templates by 5,671.2% in the 2nd quarter. Morgan Stanley now owns 329,480 shares of the biotechnology company’s stock worth $2,576,000 after purchasing an additional 323,771 shares during the period. BlackRock Inc. raised its holdings in Molecular Templates by 8.7% in the 4th quarter. BlackRock Inc. now owns 2,850,901 shares of the biotechnology company’s stock worth $11,175,000 after purchasing an additional 228,321 shares during the period. Renaissance Technologies LLC acquired a new position in Molecular Templates in the 3rd quarter worth about $1,413,000. Finally, Bellevue Group AG raised its holdings in Molecular Templates by 1.8% in the 1st quarter. Bellevue Group AG now owns 11,078,003 shares of the biotechnology company’s stock worth $38,219,000 after purchasing an additional 200,000 shares during the period. Hedge funds and other 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.

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