Franklin Street Advisors Inc. NC bought a new position in Melinta Therapeutics, Inc. (NASDAQ:MLNT) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 12,910 shares of the biotechnology company’s stock, valued at approximately $204,000. Franklin Street Advisors Inc. NC owned approximately 0.06% of Melinta Therapeutics at the end of the most recent reporting period.
Several analysts have issued reports on MLNT shares. Zacks Investment Research upgraded shares of Melinta Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, October 17th. ValuEngine cut shares of Melinta Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Friday, December 1st. Gabelli upgraded shares of Melinta Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, November 30th. Jefferies Group reiterated a “hold” rating and issued a $3.00 target price on shares of Melinta Therapeutics in a research note on Thursday, September 14th. Finally, Ladenburg Thalmann Financial Services upgraded shares of Melinta Therapeutics from a “neutral” rating to a “buy” rating in a research note on Thursday, November 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Melinta Therapeutics presently has a consensus rating of “Hold” and an average price target of $3.56.
In related news, Director Vatera Healthcare Partners Llc purchased 5,777,778 shares of the firm’s stock in a transaction dated Friday, January 5th. The shares were purchased at an average price of $13.50 per share, with a total value of $78,000,003.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 31.50% of the stock is owned by corporate insiders.
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Melinta Therapeutics Profile
Melinta Therapeutics, Inc develops and commercializes novel antibiotics designed to provide therapeutic solutions. The Company’s lead product is Baxdela, an antibiotic approved by the United States food and drug administration (FDA) for use in the treatment of acute bacterial skin and skin structure infections (ABSSSI).
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