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.
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.
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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).
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