Molecular Templates (MTEM) Cut to “Sell” at Zacks Investment Research
Zacks Investment Research lowered shares of Molecular Templates (NASDAQ:MTEM) from a hold rating to a sell rating in a report published on Wednesday.
According to Zacks, “Molecular Templates Inc. is focused on the discovery, development and commercialization of next-generation immunotoxins called Engineered Toxin Bodies for the treatment of cancers and other serious diseases. Molecular Templates Inc., formerly known as Threshold Pharmaceuticals Inc., is headquartered in Austin, United States. “
Separately, ValuEngine raised shares of Molecular Templates from a strong sell rating to a sell rating in a report on Monday, July 30th.
Molecular Templates (NASDAQ:MTEM) last announced its quarterly earnings results on Thursday, August 9th. The biotechnology company reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.25) by $0.61. Molecular Templates had a negative net margin of 509.53% and a negative return on equity of 22.67%. The firm had revenue of $1.37 million during the quarter. sell-side analysts anticipate that Molecular Templates will post -1.57 EPS for the current fiscal year.
Large investors have recently made changes to their positions in the stock. Wells Fargo & Company MN lifted its holdings in shares of Molecular Templates by 1,744.7% in the 4th quarter. Wells Fargo & Company MN now owns 10,035 shares of the biotechnology company’s stock valued at $101,000 after acquiring an additional 9,491 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Molecular Templates in the 2nd quarter valued at about $138,000. Northern Trust Corp lifted its holdings in shares of Molecular Templates by 36.7% in the 1st quarter. Northern Trust Corp now owns 22,152 shares of the biotechnology company’s stock valued at $177,000 after acquiring an additional 5,948 shares during the last quarter. Dimensional Fund Advisors LP bought a new position in shares of Molecular Templates in the 1st quarter valued at about $213,000. Finally, Alps Advisors Inc. raised its position in Molecular Templates by 21.0% in the 1st quarter. Alps Advisors Inc. now owns 36,052 shares of the biotechnology company’s stock worth $288,000 after purchasing an additional 6,265 shares during the period. 21.13% of the stock is owned by hedge funds and other institutional investors.
Molecular Templates Company Profile
Molecular Templates, Inc, a clinical stage biopharmaceutical 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 I clinical trial for the treatment of relapsed/refractory non-Hodgkin's lymphoma and B-cell lymphoma.
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