Molecular Templates (NASDAQ:MTEM) Cut to “Buy” at BidaskClub

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BidaskClub cut shares of Molecular Templates (NASDAQ:MTEM) from a strong-buy rating to a buy rating in a report released on Thursday morning, BidAskClub reports.

Several other equities research analysts have also commented on the company. Cowen restated a buy rating on shares of Molecular Templates in a research report on Wednesday, November 13th. Zacks Investment Research downgraded Molecular Templates from a buy rating to a hold rating in a research note on Tuesday, February 11th. Finally, ValuEngine downgraded Molecular Templates from a sell rating to a strong sell rating in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $14.00.

Shares of NASDAQ MTEM opened at $17.83 on Thursday. The stock has a market capitalization of $658.96 million, a PE ratio of -10.94 and a beta of 3.33. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.66 and a quick ratio of 2.66. The business has a fifty day moving average price of $14.47 and a two-hundred day moving average price of $9.77. Molecular Templates has a fifty-two week low of $4.51 and a fifty-two week high of $18.38.

Several institutional investors and hedge funds have recently modified their holdings of MTEM. Marshall Wace LLP increased its position in shares of Molecular Templates by 56.7% during the first quarter. Marshall Wace LLP now owns 38,493 shares of the biotechnology company’s stock valued at $224,000 after acquiring an additional 13,925 shares during the last quarter. Vanguard Group Inc. grew its holdings in Molecular Templates by 10.4% during the second quarter. Vanguard Group Inc. now owns 740,883 shares of the biotechnology company’s stock valued at $6,187,000 after purchasing an additional 69,704 shares during the period. California Public Employees Retirement System grew its holdings in Molecular Templates by 17.2% during the third quarter. California Public Employees Retirement System now owns 21,216 shares of the biotechnology company’s stock valued at $140,000 after purchasing an additional 3,117 shares during the period. Russell Investments Group Ltd. bought a new position in Molecular Templates during the third quarter valued at $230,000. Finally, Tower Research Capital LLC TRC grew its holdings in 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 valued at $36,000 after purchasing an additional 4,304 shares during the period. 60.53% of the stock is owned by institutional investors.

About Molecular Templates

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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