Citadel Advisors LLC Invests $296,000 in Melinta Therapeutics, Inc. (MLNT) Stock

Citadel Advisors LLC bought a new position in shares of Melinta Therapeutics, Inc. (NASDAQ:MLNT) during the 4th quarter, Holdings Channel reports. The fund bought 18,741 shares of the biotechnology company’s stock, valued at approximately $296,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. American International Group Inc. acquired a new position in Melinta Therapeutics during the 4th quarter worth approximately $102,000. Virtus Fund Advisers LLC acquired a new stake in shares of Melinta Therapeutics in the 4th quarter worth approximately $348,000. BlackRock Inc. acquired a new stake in shares of Melinta Therapeutics in the 4th quarter worth approximately $9,550,000. Bank of New York Mellon Corp acquired a new stake in shares of Melinta Therapeutics in the 4th quarter worth approximately $592,000. Finally, Rhumbline Advisers acquired a new stake in shares of Melinta Therapeutics in the 4th quarter worth approximately $161,000. Institutional investors own 37.03% of the company’s stock.

In related news, Director Vatera Healthcare Partners Llc bought 5,777,778 shares of Melinta Therapeutics stock in a transaction that occurred on 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. 31.50% of the stock is currently owned by corporate insiders.

Shares of Melinta Therapeutics, Inc. (NASDAQ MLNT) opened at $12.20 on Wednesday. The firm has a market capitalization of $421.32, a P/E ratio of -1.29 and a beta of 1.08. The company has a quick ratio of 11.49, a current ratio of 11.49 and a debt-to-equity ratio of 0.03. Melinta Therapeutics, Inc. has a fifty-two week low of $10.25 and a fifty-two week high of $24.25.

A number of equities research analysts recently weighed in on MLNT shares. ValuEngine cut Melinta Therapeutics from a “sell” rating to a “strong sell” rating in a report on Friday, December 1st. Gabelli upgraded Melinta Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, November 30th. Ladenburg Thalmann Financial Services upgraded Melinta Therapeutics from a “neutral” rating to a “buy” rating in a report on Thursday, November 30th. Zacks Investment Research cut Melinta Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, February 8th. Finally, BidaskClub cut Melinta Therapeutics from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $3.56.

ILLEGAL ACTIVITY WARNING: This piece of content was first published by Markets Daily and is the property of of Markets Daily. If you are viewing this piece of content on another site, it was copied illegally and reposted in violation of US and international copyright laws. The legal version of this piece of content can be read at https://www.themarketsdaily.com/2018/03/14/citadel-advisors-llc-invests-296000-in-melinta-therapeutics-inc-mlnt-stock.html.

About Melinta Therapeutics

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).

Want to see what other hedge funds are holding MLNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Melinta Therapeutics, Inc. (NASDAQ:MLNT).

Institutional Ownership by Quarter for Melinta Therapeutics (NASDAQ:MLNT)

Receive News & Ratings for Melinta Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Melinta Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply