Melinta Therapeutics (NASDAQ:MLNT) released its quarterly earnings results on Wednesday. The biotechnology company reported ($0.50) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.05) by $0.55, MarketWatch Earnings reports. The company had revenue of $34.08 million during the quarter, compared to analysts’ expectations of $17.24 million. Melinta Therapeutics had a negative net margin of 348.51% and a negative return on equity of 67.60%.
NASDAQ MLNT traded up $0.31 on Thursday, hitting $2.86. 561,654 shares of the stock were exchanged, compared to its average volume of 348,264. The company has a current ratio of 1.97, a quick ratio of 1.65 and a debt-to-equity ratio of 0.41. Melinta Therapeutics has a 52 week low of $2.25 and a 52 week high of $18.20. The firm has a market capitalization of $148.99 million, a P/E ratio of -0.13 and a beta of 1.45.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC raised its position in Melinta Therapeutics by 470.0% during the second quarter. FMR LLC now owns 5,640,305 shares of the biotechnology company’s stock worth $35,816,000 after acquiring an additional 4,650,796 shares in the last quarter. BlackRock Inc. raised its position in Melinta Therapeutics by 93.4% during the second quarter. BlackRock Inc. now owns 1,658,275 shares of the biotechnology company’s stock worth $10,530,000 after acquiring an additional 800,877 shares in the last quarter. First Manhattan Co. raised its position in Melinta Therapeutics by 30.9% during the third quarter. First Manhattan Co. now owns 1,570,300 shares of the biotechnology company’s stock worth $6,202,000 after acquiring an additional 370,300 shares in the last quarter. Millennium Management LLC raised its position in Melinta Therapeutics by 160.1% during the second quarter. Millennium Management LLC now owns 1,161,861 shares of the biotechnology company’s stock worth $7,378,000 after acquiring an additional 715,148 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Melinta Therapeutics by 13.7% during the second quarter. Dimensional Fund Advisors LP now owns 541,583 shares of the biotechnology company’s stock worth $3,439,000 after acquiring an additional 65,371 shares in the last quarter. 69.40% of the stock is currently owned by hedge funds and other institutional investors.
Melinta Therapeutics Company Profile
Melinta Therapeutics, Inc, a commercial-stage pharmaceutical company, discovers, develops, and commercializes various anti-infectives for the treatment of bacterial infectious diseases in North America. It offers Baxdela, an antibiotic for the treatment of acute bacterial skin and skin structure infections (ABSSSI); Vabomere, a carbapenem used in treatment of gram-negative infections; Orbactiv, an antibiotic of the lipoglycopeptide class for the treatment of adult patients with ABSSSIs; and Minocin, a IV antibiotic of the tetracycline class with activity against gram-positive and gram-negative pathogens, as well as Solithromycin, a macrolide antibiotic for the treatment of CABP.
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