Molecular Templates (NASDAQ:MTEM) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Molecular Templates (NASDAQ:MTEM – Get Rating) posted its quarterly earnings results on Thursday. The biotechnology company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.04, MarketWatch Earnings reports. The company had revenue of $8.49 million during the quarter, compared to analyst estimates of $6.88 million. Molecular Templates had a negative net margin of 214.51% and a negative return on equity of 96.66%.

NASDAQ:MTEM traded up $0.06 on Friday, reaching $1.24. 238,167 shares of the company’s stock were exchanged, compared to its average volume of 227,856. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.18 and a quick ratio of 3.18. The firm has a market cap of $69.82 million, a price-to-earnings ratio of -0.90 and a beta of 1.58. Molecular Templates has a 52 week low of $1.12 and a 52 week high of $9.38. The stock has a fifty day simple moving average of $2.37 and a 200-day simple moving average of $3.28.

Several institutional investors have recently made changes to their positions in MTEM. Marshall Wace LLP lifted its holdings in shares of Molecular Templates by 56.7% in the first quarter. Marshall Wace LLP now owns 38,493 shares of the biotechnology company’s stock worth $224,000 after buying an additional 13,925 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Molecular Templates by 5,671.2% in the second quarter. Morgan Stanley now owns 329,480 shares of the biotechnology company’s stock worth $2,576,000 after buying an additional 323,771 shares in the last quarter. Invesco Ltd. purchased a new stake in shares of Molecular Templates in the second quarter worth about $101,000. SG Americas Securities LLC purchased a new stake in shares of Molecular Templates in the third quarter worth about $128,000. Finally, Advisor Group Holdings Inc. lifted its holdings in shares of Molecular Templates by 764.6% in the third quarter. Advisor Group Holdings Inc. now owns 4,349 shares of the biotechnology company’s stock worth $29,000 after buying an additional 3,846 shares in the last quarter. 88.72% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms recently weighed in on MTEM. Stifel Nicolaus reduced their price target on shares of Molecular Templates from $11.00 to $9.00 in a research report on Friday. Zacks Investment Research upgraded shares of Molecular Templates from a “sell” rating to a “hold” rating in a research report on Friday, March 25th. Finally, Barclays cut their target price on shares of Molecular Templates from $8.00 to $4.50 and set an “overweight” rating for the company in a research report on Wednesday, March 30th.

About Molecular Templates (Get Rating)

Molecular Templates, Inc, a clinical stage biopharmaceutical company, focuses on the discovery and development of biologic therapeutics for the treatment of cancer and other serious diseases. The company primarily develops a pipeline of therapies through its proprietary biologic engineered toxin body (ETB) drug platform.

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