Private Advisors LLC purchased a new stake in shares of Molecular Templates Inc (NASDAQ:MTEM) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 16,822 shares of the biotechnology company’s stock, valued at approximately $98,000.

Several other hedge funds have also added to or reduced their stakes in MTEM. Rhumbline Advisers bought a new position in shares of Molecular Templates during the fourth quarter valued at $53,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Molecular Templates by 136.3% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 28,750 shares of the biotechnology company’s stock valued at $116,000 after acquiring an additional 16,585 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Molecular Templates by 37.6% during the fourth quarter. Bank of New York Mellon Corp now owns 36,854 shares of the biotechnology company’s stock valued at $149,000 after acquiring an additional 10,076 shares during the last quarter. Knoll Capital Management LP bought a new position in shares of Molecular Templates during the fourth quarter valued at $460,000. Finally, Geode Capital Management LLC raised its stake in shares of Molecular Templates by 78.1% during the fourth quarter. Geode Capital Management LLC now owns 134,069 shares of the biotechnology company’s stock valued at $541,000 after acquiring an additional 58,780 shares during the last quarter. 37.18% of the stock is owned by hedge funds and other institutional investors.

Several research firms have recently issued reports on MTEM. ValuEngine downgraded shares of Molecular Templates from a “hold” rating to a “sell” rating in a research note on Wednesday, May 1st. BidaskClub raised shares of Molecular Templates from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 9th. Zacks Investment Research downgraded shares of Molecular Templates from a “buy” rating to a “hold” rating in a research note on Tuesday, April 2nd. Cowen reaffirmed a “buy” rating on shares of Molecular Templates in a research note on Sunday, March 31st. Finally, TheStreet raised shares of Molecular Templates from a “d” rating to a “c-” rating in a research note on Tuesday, April 2nd. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $13.58.

NASDAQ MTEM traded down $0.23 during mid-day trading on Tuesday, reaching $7.83. 98,497 shares of the stock were exchanged, compared to its average volume of 91,274. Molecular Templates Inc has a one year low of $3.19 and a one year high of $8.58. The company has a market capitalization of $287.91 million, a PE ratio of -7.68 and a beta of 2.87. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 0.14.

Molecular Templates (NASDAQ:MTEM) last announced its earnings results on Monday, May 13th. The biotechnology company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.05. Molecular Templates had a negative net margin of 42.15% and a negative return on equity of 9.14%. The business had revenue of $7.01 million during the quarter, compared to the consensus estimate of $6.00 million. As a group, equities analysts expect that Molecular Templates Inc will post -0.87 earnings per share for the current fiscal year.

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Molecular Templates Profile

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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Institutional Ownership by Quarter for Molecular Templates (NASDAQ:MTEM)

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