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.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of Melinta Therapeutics by 4.4% during the fourth quarter. BlackRock Inc. now owns 2,532,235 shares of the biotechnology company’s stock worth $2,008,000 after buying an additional 106,721 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Melinta Therapeutics by 6.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 772,725 shares of the biotechnology company’s stock worth $613,000 after buying an additional 48,907 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of Melinta Therapeutics by 979.8% during the fourth quarter. Deutsche Bank AG now owns 751,625 shares of the biotechnology company’s stock worth $595,000 after buying an additional 682,014 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Melinta Therapeutics by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 418,753 shares of the biotechnology company’s stock worth $331,000 after buying an additional 13,337 shares in the last quarter. Finally, Two Sigma Investments LP grew its holdings in shares of Melinta Therapeutics by 431.8% during the fourth quarter. Two Sigma Investments LP now owns 315,905 shares of the biotechnology company’s stock worth $250,000 after buying an additional 256,506 shares in the last quarter. 26.81% of the stock is currently owned by institutional investors.

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.

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