Molecular Templates (MTEM) Upgraded to Hold by Zacks Investment Research
Molecular Templates (NASDAQ:MTEM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued 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 cut shares of Molecular Templates from a “hold” rating to a “sell” rating in a report on Friday, July 6th.
Molecular Templates (NASDAQ:MTEM) last posted its quarterly earnings results on Thursday, August 9th. The biotechnology company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.61. The business had revenue of $1.37 million during the quarter. Molecular Templates had a negative net margin of 509.53% and a negative return on equity of 22.67%. research analysts anticipate that Molecular Templates will post -1.57 EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in shares of Molecular Templates by 41.4% during the first quarter. JPMorgan Chase & Co. now owns 50,020 shares of the biotechnology company’s stock valued at $400,000 after buying an additional 14,635 shares during the last quarter. Millennium Management LLC acquired a new position in shares of Molecular Templates during the fourth quarter valued at about $722,000. Northern Trust Corp grew its holdings in shares of Molecular Templates by 36.7% during the first quarter. Northern Trust Corp now owns 22,152 shares of the biotechnology company’s stock valued at $177,000 after buying an additional 5,948 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Molecular Templates by 1,744.7% during the fourth quarter. Wells Fargo & Company MN now owns 10,035 shares of the biotechnology company’s stock valued at $101,000 after buying an additional 9,491 shares during the last quarter. Finally, Caxton Corp grew its holdings in shares of Molecular Templates by 2.5% during the first quarter. Caxton Corp now owns 1,038,787 shares of the biotechnology company’s stock valued at $8,310,000 after buying an additional 25,000 shares during the last quarter. Hedge funds and other institutional investors own 21.17% of the company’s stock.
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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