Molecular Templates (NASDAQ:MTEM) Stock Price Up 12.3%

Molecular Templates Inc (NASDAQ:MTEM) rose 12.3% during mid-day trading on Tuesday . The company traded as high as $8.36 and last traded at $8.11, approximately 305,900 shares were traded during mid-day trading. An increase of 188% from the average daily volume of 106,170 shares. The stock had previously closed at $7.22.

MTEM has been the topic of a number of research analyst reports. Zacks Investment Research lowered Molecular Templates from a “hold” rating to a “sell” rating in a research report on Tuesday. Cowen reissued a “buy” rating on shares of Molecular Templates in a research report on Wednesday, November 13th. TheStreet lowered Molecular Templates from a “c-” rating to a “d” rating in a research report on Monday, August 5th. BidaskClub lowered Molecular Templates from a “buy” rating to a “hold” rating in a research report on Friday. Finally, ValuEngine lowered Molecular Templates from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $12.70.

The company has a market cap of $268.39 million, a PE ratio of -7.95 and a beta of 2.99. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.26. The business has a 50-day simple moving average of $7.80 and a 200-day simple moving average of $7.05.

A number of hedge funds and other institutional investors have recently made changes to their positions in MTEM. Tower Research Capital LLC TRC increased its position in shares of Molecular Templates by 407.6% during 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 shares of Molecular Templates during the second quarter worth $37,000. Meeder Asset Management Inc. increased its position in shares of Molecular Templates by 326.4% during the second quarter. Meeder Asset Management Inc. now owns 6,371 shares of the biotechnology company’s stock worth $53,000 after acquiring an additional 4,877 shares during the period. Susquehanna International Group LLP purchased a new stake in shares of Molecular Templates during the second quarter worth $98,000. Finally, Citadel Advisors LLC purchased a new stake in shares of Molecular Templates during the second quarter worth $111,000. 38.25% of the stock is currently owned by institutional investors.

About Molecular Templates (NASDAQ:MTEM)

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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