Molecular Templates (NASDAQ:MTEM) Rating Lowered to Hold at BidaskClub

BidaskClub cut shares of Molecular Templates (NASDAQ:MTEM) from a buy rating to a hold rating in a research note issued to investors on Friday, BidAskClub reports.

Other equities research analysts have also recently issued reports about the company. Cowen reaffirmed a buy rating on shares of Molecular Templates in a research note on Wednesday, November 13th. TheStreet lowered Molecular Templates from a c- rating to a d rating in a report on Monday, August 5th. ValuEngine lowered Molecular Templates from a sell rating to a strong sell rating in a report on Wednesday, October 2nd. Finally, Zacks Investment Research cut Molecular Templates from a hold rating to a sell rating in a research report on Friday, August 16th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. The stock has an average rating of Hold and an average price target of $12.70.

MTEM stock traded up $0.97 during midday trading on Friday, hitting $8.20. 21,784 shares of the company’s stock were exchanged, compared to its average volume of 205,838. The business has a 50-day simple moving average of $7.76 and a two-hundred day simple moving average of $7.04. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $268.39 million, a PE ratio of -7.56 and a beta of 2.99. Molecular Templates has a 1-year low of $3.19 and a 1-year high of $9.77.

Several hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC lifted its stake 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 worth $36,000 after acquiring an additional 4,304 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Molecular Templates in the second quarter worth $37,000. Meeder Asset Management Inc. raised its holdings in Molecular Templates by 326.4% in the second quarter. Meeder Asset Management Inc. now owns 6,371 shares of the biotechnology company’s stock worth $53,000 after purchasing an additional 4,877 shares in the last quarter. Susquehanna International Group LLP bought a new position in Molecular Templates in the second quarter worth $98,000. Finally, Citadel Advisors LLC bought a new position in Molecular Templates in the second quarter worth $111,000. Institutional investors own 38.25% of the company’s stock.

Molecular Templates Company Profile

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.

Read More: Bid-Ask Spread

Analyst Recommendations for Molecular Templates (NASDAQ:MTEM)

Receive News & Ratings for Molecular Templates Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Molecular Templates and related companies with MarketBeat.com's FREE daily email newsletter.