Perceptive Advisors LLC lifted its stake in shares of Molecular Templates Inc (NASDAQ:MTEM) by 25.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,474,133 shares of the biotechnology company’s stock after buying an additional 500,000 shares during the quarter. Perceptive Advisors LLC owned 0.07% of Molecular Templates worth $34,601,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of MTEM. Tower Research Capital LLC TRC raised its holdings in Molecular Templates by 407.6% in the third quarter. Tower Research Capital LLC TRC now owns 5,360 shares of the biotechnology company’s stock valued at $36,000 after acquiring an additional 4,304 shares in the last quarter. Citigroup Inc. lifted its holdings in Molecular Templates by 83.9% during the 4th quarter. Citigroup Inc. now owns 3,530 shares of the biotechnology company’s stock worth $50,000 after buying an additional 1,611 shares during the last quarter. Bank of Montreal Can grew its position in shares of Molecular Templates by 21.9% in the 4th quarter. Bank of Montreal Can now owns 3,716 shares of the biotechnology company’s stock worth $52,000 after acquiring an additional 668 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in shares of Molecular Templates by 99.2% in the 4th quarter. Meeder Asset Management Inc. now owns 4,584 shares of the biotechnology company’s stock valued at $65,000 after acquiring an additional 2,283 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new stake in shares of Molecular Templates in the 3rd quarter valued at approximately $70,000. Institutional investors and hedge funds own 49.02% of the company’s stock.
MTEM traded up $0.99 during trading on Thursday, reaching $14.42. 176,090 shares of the company were exchanged, compared to its average volume of 314,120. Molecular Templates Inc has a 52 week low of $4.51 and a 52 week high of $19.12. The company has a current ratio of 3.91, a quick ratio of 3.91 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average of $15.12 and a 200 day moving average of $11.39. The stock has a market cap of $606.66 million, a P/E ratio of -7.75 and a beta of 2.91.
Molecular Templates (NASDAQ:MTEM) last posted its earnings results on Thursday, March 12th. The biotechnology company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.05). Molecular Templates had a negative net margin of 311.73% and a negative return on equity of 55.41%. The company had revenue of $6.20 million during the quarter, compared to the consensus estimate of $6.20 million. As a group, analysts forecast that Molecular Templates Inc will post -1.38 earnings per share for the current fiscal year.
Several brokerages recently issued reports on MTEM. ValuEngine upgraded Molecular Templates from a “sell” rating to a “hold” rating in a research note on Tuesday, March 3rd. Stifel Nicolaus assumed coverage on shares of Molecular Templates in a research report on Wednesday. They issued a “buy” rating and a $19.00 price target on the stock. Zacks Investment Research raised shares of Molecular Templates from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Tuesday, February 25th. Barclays initiated coverage on shares of Molecular Templates in a research report on Thursday, February 27th. They set an “overweight” rating and a $22.00 price objective for the company. Finally, BidaskClub lowered shares of Molecular Templates from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 12th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $18.25.
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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