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 report published on Friday, BidAskClub reports.

A number of other research analysts also recently weighed in on MTEM. Zacks Investment Research downgraded Molecular Templates from a hold rating to a sell rating in a research note on Friday, August 16th. Cowen reissued a buy rating on shares of Molecular Templates in a research note on Wednesday, November 13th. TheStreet downgraded Molecular Templates from a c- rating to a d rating in a research note on Monday, August 5th. Finally, ValuEngine downgraded Molecular Templates from a sell rating to a strong sell rating in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. Molecular Templates currently has a consensus rating of Hold and an average price target of $12.70.

Shares of MTEM stock traded down $0.22 during trading hours on Friday, reaching $7.04. The company had a trading volume of 10,618 shares, compared to its average volume of 209,781. The company has a 50 day moving average of $7.72 and a 200 day moving average of $7.04. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.66 and a quick ratio of 3.11. The firm has a market cap of $258.78 million, a price-to-earnings ratio of -6.90 and a beta of 2.99. Molecular Templates has a 1-year low of $3.19 and a 1-year high of $9.77.

A number of institutional investors have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Molecular Templates by 7.8% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 29,310 shares of the biotechnology company’s stock worth $245,000 after purchasing an additional 2,125 shares in the last quarter. California Public Employees Retirement System increased its holdings in Molecular Templates by 17.2% during the 3rd quarter. California Public Employees Retirement System now owns 21,216 shares of the biotechnology company’s stock worth $140,000 after purchasing an additional 3,117 shares in the last quarter. Northern Trust Corp increased its holdings in Molecular Templates by 2.3% during the 2nd quarter. Northern Trust Corp now owns 172,210 shares of the biotechnology company’s stock worth $1,438,000 after purchasing an additional 3,805 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Molecular Templates by 407.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 5,360 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 4,304 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in Molecular Templates during the 2nd quarter worth about $37,000. 38.25% of the stock is currently owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Molecular Templates (NASDAQ:MTEM)

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