Connor Clark & Lunn Investment Management Ltd. raised its holdings in Molecular Templates Inc (NASDAQ:MTEM) by 7.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,310 shares of the biotechnology company’s stock after acquiring an additional 2,125 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.08% of Molecular Templates worth $245,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in MTEM. Chicago Equity Partners LLC acquired a new position in Molecular Templates in the second quarter valued at approximately $128,000. Private Advisors LLC acquired a new position in Molecular Templates in the first quarter valued at approximately $98,000. Strs Ohio acquired a new position in shares of Molecular Templates during the second quarter worth approximately $121,000. Fosun International Ltd raised its position in shares of Molecular Templates by 39.3% during the first quarter. Fosun International Ltd now owns 162,991 shares of the biotechnology company’s stock worth $940,000 after purchasing an additional 45,968 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Molecular Templates by 78.1% during the fourth quarter. Geode Capital Management LLC now owns 134,069 shares of the biotechnology company’s stock worth $541,000 after purchasing an additional 58,780 shares during the period. Institutional investors own 38.07% of the company’s stock.
MTEM has been the topic of a number of research reports. BidaskClub lowered Molecular Templates from a “hold” rating to a “sell” rating in a research report on Friday, July 26th. TheStreet lowered Molecular Templates from a “c-” rating to a “d” rating in a research report on Monday, August 5th. Zacks Investment Research lowered Molecular Templates from a “hold” rating to a “sell” rating in a research report on Friday, August 16th. Cowen reissued a “buy” rating on shares of Molecular Templates in a research report on Tuesday, August 13th. Finally, ValuEngine lowered Molecular Templates from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Three analysts have rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. Molecular Templates currently has an average rating of “Hold” and a consensus price target of $13.58.
Shares of MTEM stock traded up $0.56 on Friday, hitting $6.27. 18,683 shares of the stock were exchanged, compared to its average volume of 83,004. The firm’s 50 day moving average is $5.52 and its two-hundred day moving average is $6.51. The firm has a market capitalization of $209.82 million, a PE ratio of -6.03 and a beta of 2.88. The company has a current ratio of 3.11, a quick ratio of 3.11 and a debt-to-equity ratio of 0.15. Molecular Templates Inc has a one year low of $3.19 and a one year high of $8.77.
Molecular Templates (NASDAQ:MTEM) last issued its quarterly earnings data on Monday, August 12th. The biotechnology company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). Molecular Templates had a negative return on equity of 27.72% and a negative net margin of 113.85%. The company had revenue of $5.45 million for the quarter, compared to analysts’ expectations of $6.00 million. On average, sell-side analysts expect that Molecular Templates Inc will post -0.92 earnings per share for the current year.
Molecular Templates 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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