Shv Management Services, Llc Buys 60,000 Shares of Molecular Templates, Inc. (NASDAQ:MTEM) Stock

Molecular Templates, Inc. (NASDAQ:MTEMGet Rating) major shareholder Shv Management Services, Llc acquired 60,000 shares of Molecular Templates stock in a transaction dated Tuesday, June 14th. The shares were purchased at an average price of $0.87 per share, with a total value of $52,200.00. Following the acquisition, the insider now owns 160,000 shares of the company’s stock, valued at $139,200. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Shares of NASDAQ:MTEM opened at $0.88 on Thursday. The company’s fifty day moving average is $1.34 and its 200 day moving average is $2.52. Molecular Templates, Inc. has a 52 week low of $0.76 and a 52 week high of $8.62. The stock has a market cap of $49.58 million, a PE ratio of -0.64 and a beta of 1.61. The company has a quick ratio of 2.94, a current ratio of 2.94 and a debt-to-equity ratio of 0.75.

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

Several hedge funds and other institutional investors have recently modified their holdings of MTEM. Advisor Group Holdings Inc. raised its holdings in shares of Molecular Templates by 764.6% during the third quarter. Advisor Group Holdings Inc. now owns 4,349 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 3,846 shares during the last quarter. Citigroup Inc. raised its holdings in shares of Molecular Templates by 100.4% during the third quarter. Citigroup Inc. now owns 4,765 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 2,387 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new stake in Molecular Templates during the first quarter valued at approximately $35,000. ProShare Advisors LLC purchased a new stake in Molecular Templates during the fourth quarter valued at approximately $63,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Molecular Templates during the first quarter valued at approximately $71,000. Hedge funds and other institutional investors own 88.72% of the company’s stock.

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

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.

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