Molecular Templates Inc (NASDAQ:MTEM) was the recipient of a large increase in short interest during the month of June. As of June 30th, there was short interest totalling 402,800 shares, an increase of 35.9% from the May 30th total of 296,500 shares. Approximately 2.1% of the company’s shares are short sold. Based on an average daily trading volume, of 109,600 shares, the short-interest ratio is currently 3.7 days.

Several institutional investors have recently added to or reduced their stakes in MTEM. Diag Capital Management LP purchased a new position in shares of Molecular Templates in the 4th quarter worth about $985,000. BlackRock Inc. raised its holdings in shares of Molecular Templates by 26.4% in the 4th quarter. BlackRock Inc. now owns 743,893 shares of the biotechnology company’s stock worth $3,005,000 after purchasing an additional 155,240 shares during the period. Knoll Capital Management LP purchased a new stake in shares of Molecular Templates during the 4th quarter valued at about $460,000. Northern Trust Corp raised its holdings in shares of Molecular Templates by 59.2% during the 4th quarter. Northern Trust Corp now owns 165,677 shares of the biotechnology company’s stock valued at $669,000 after buying an additional 61,616 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Molecular Templates by 78.1% during the 4th quarter. Geode Capital Management LLC now owns 134,069 shares of the biotechnology company’s stock valued at $541,000 after buying an additional 58,780 shares during the period. Institutional investors own 36.52% of the company’s stock.

Shares of Molecular Templates stock traded down $0.04 during trading hours on Friday, reaching $7.28. The stock had a trading volume of 88,372 shares, compared to its average volume of 144,508. The business’s 50 day simple moving average is $7.80. The firm has a market capitalization of $269.15 million, a price-to-earnings ratio of -7.14 and a beta of 2.75. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.24 and a quick ratio of 3.24. Molecular Templates has a 1 year low of $3.19 and a 1 year high of $8.77.

Molecular Templates (NASDAQ:MTEM) last released its quarterly earnings data on Monday, May 13th. The biotechnology company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.05. The company had revenue of $7.01 million for 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%. On average, equities analysts predict that Molecular Templates will post -0.87 earnings per share for the current fiscal year.

MTEM has been the topic of a number of research analyst reports. UBS Group initiated coverage on Molecular Templates in a research note on Monday, April 29th. They issued a “buy” rating and a $12.00 price target on the stock. Zacks Investment Research raised First Industrial Realty Trust from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research note on Wednesday, June 5th. ValuEngine raised Vermillion from a “hold” rating to a “buy” rating in a research note on Wednesday, May 15th. Cowen reissued a “buy” rating and issued a $77.00 price target on shares of Centene in a research note on Sunday, March 31st. Finally, TheStreet lowered SYNNEX from a “b” rating to a “c+” rating in a research note on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $13.58.

About Molecular Templates

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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