Short Interest in Melinta Therapeutics Inc (NASDAQ:MLNT) Expands By 58.5%
Melinta Therapeutics Inc (NASDAQ:MLNT) was the recipient of a significant growth in short interest in the month of June. As of June 30th, there was short interest totalling 2,827,500 shares, a growth of 58.5% from the May 30th total of 1,783,600 shares. Currently, 39.8% of the company’s shares are short sold. Based on an average daily trading volume, of 2,410,000 shares, the days-to-cover ratio is currently 1.2 days.
Shares of NASDAQ MLNT traded down $0.67 during mid-day trading on Thursday, reaching $4.45. 1,683,656 shares of the company’s stock were exchanged, compared to its average volume of 1,416,378. The stock has a market capitalization of $66.20 million, a price-to-earnings ratio of -0.25 and a beta of 4.31. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.40 and a quick ratio of 1.06. The firm’s fifty day moving average is $4.04. Melinta Therapeutics has a twelve month low of $1.62 and a twelve month high of $32.75.
Melinta Therapeutics (NASDAQ:MLNT) last released its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($2.34) EPS for the quarter, topping the Zacks’ consensus estimate of ($2.72) by $0.38. The company had revenue of $14.08 million for the quarter, compared to analyst estimates of $16.83 million. Melinta Therapeutics had a negative return on equity of 61.13% and a negative net margin of 161.27%. As a group, research analysts predict that Melinta Therapeutics will post -9.99 EPS for the current year.
MLNT has been the topic of several analyst reports. WBB Securities lowered Melinta Therapeutics from a “speculative buy” rating to a “hold” rating in a research note on Thursday, June 20th. Jefferies Financial Group set a €20.00 ($23.26) target price on ThyssenKrupp and gave the company a “buy” rating in a research note on Friday, May 10th. ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Cantor Fitzgerald set a $15.00 target price on Melinta Therapeutics and gave the company a “buy” rating in a research note on Wednesday, June 19th. Finally, Gabelli lowered Barnes & Noble from a “buy” rating to a “hold” rating and increased their target price for the company from $6.50 to $6.71 in a research note on Thursday, June 20th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Melinta Therapeutics has an average rating of “Hold” and a consensus price target of $28.00.
About Melinta Therapeutics
Melinta Therapeutics, Inc, a commercial-stage pharmaceutical company, discovers, develops, and commercializes various anti-infectives for the treatment of bacterial infectious diseases in North America. It offers Baxdela, a monotherapy treatment of adult patients with acute bacterial skin or skin structure infections (ABSSSIs); Vabomere, an IV antibiotic used in treatment of gram-negative infections; Orbactiv, an IV antibiotic of the lipoglycopeptide class for the treatment of adult patients with ABSSSIs; and Minocin, a IV antibiotic of the tetracycline class with activity against gram-positive and gram-negative pathogens.
Further Reading: Capital Gains
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