Melinta Therapeutics (MLNT) Sets New 1-Year High and Low at $7.09

Melinta Therapeutics, Inc. (NASDAQ:MLNT)’s share price hit a new 52-week high and low during trading on Monday . The company traded as low as $7.09 and last traded at $7.17, with a volume of 125225 shares. The stock had previously closed at $7.40.

MLNT has been the topic of a number of recent analyst reports. BidaskClub lowered shares of Melinta Therapeutics from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd. Zacks Investment Research lowered shares of Melinta Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, February 8th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $3.56.

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The company has a current ratio of 4.72, a quick ratio of 4.38 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $231.80, a P/E ratio of -0.33 and a beta of 1.38.

Melinta Therapeutics (NASDAQ:MLNT) last issued its quarterly earnings data on Tuesday, March 13th. The biotechnology company reported ($1.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.89). The firm had revenue of $4.23 million during the quarter, compared to analyst estimates of $3.28 million. Melinta Therapeutics had a negative return on equity of 45.75% and a negative net margin of 550.46%. research analysts expect that Melinta Therapeutics, Inc. will post -4.99 earnings per share for the current year.

In related news, Director Vatera Healthcare Partners Llc bought 5,777,778 shares of the business’s stock in a transaction dated Friday, January 5th. The shares were acquired at an average price of $13.50 per share, for a total transaction of $78,000,003.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 31.50% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Vatera Holdings LLC acquired a new stake in shares of Melinta Therapeutics in the 4th quarter valued at about $106,325,000. BlackRock Inc. acquired a new stake in shares of Melinta Therapeutics in the 4th quarter valued at about $9,550,000. Millennium Management LLC acquired a new stake in shares of Melinta Therapeutics in the 4th quarter valued at about $4,407,000. Sphera Funds Management LTD. acquired a new stake in shares of Melinta Therapeutics in the 4th quarter valued at about $3,160,000. Finally, Deutsche Bank AG acquired a new stake in shares of Melinta Therapeutics in the 4th quarter valued at about $1,464,000. Institutional investors and hedge funds own 36.99% of the company’s stock.

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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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