Molecular Templates, Inc. (NASDAQ:MTEM) Sees Significant Increase in Short Interest

Molecular Templates, Inc. (NASDAQ:MTEMGet Rating) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 376,900 shares, a growth of 18.0% from the August 15th total of 319,300 shares. Currently, 0.9% of the company’s shares are short sold. Based on an average daily volume of 239,800 shares, the short-interest ratio is currently 1.6 days.

Analyst Upgrades and Downgrades

Separately, Bank of America cut shares of Molecular Templates from a “buy” rating to an “underperform” rating and set a $1.50 price target for the company. in a research report on Friday, May 27th.

Institutional Investors Weigh In On Molecular Templates

Several institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its position in shares of Molecular Templates by 39.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 169,087 shares of the biotechnology company’s stock worth $154,000 after purchasing an additional 47,839 shares during the last quarter. Prudential Financial Inc. purchased a new stake in shares of Molecular Templates during the 2nd quarter worth $29,000. Citadel Advisors LLC lifted its position in shares of Molecular Templates by 204.1% during the 2nd quarter. Citadel Advisors LLC now owns 125,425 shares of the biotechnology company’s stock worth $114,000 after purchasing an additional 84,186 shares during the last quarter. Millennium Management LLC lifted its position in Molecular Templates by 2,801.6% in the second quarter. Millennium Management LLC now owns 715,158 shares of the biotechnology company’s stock valued at $652,000 after acquiring an additional 690,511 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in Molecular Templates by 221.1% in the second quarter. Renaissance Technologies LLC now owns 665,205 shares of the biotechnology company’s stock valued at $606,000 after acquiring an additional 458,052 shares during the last quarter. 58.15% of the stock is owned by hedge funds and other institutional investors.

Molecular Templates Stock Performance

Shares of MTEM stock opened at $0.74 on Monday. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 1.37. Molecular Templates has a 52 week low of $0.65 and a 52 week high of $8.29. The stock has a market capitalization of $41.44 million, a PE ratio of -0.48 and a beta of 1.45. The firm has a 50 day moving average of $0.85 and a two-hundred day moving average of $1.44.

About Molecular Templates

(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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