Molecular Templates (MTEM) Posts Quarterly Earnings Results, Beats Estimates By $0.15 EPS

Molecular Templates (NASDAQ:MTEM) announced its quarterly earnings data on Tuesday. The biotechnology company reported ($0.19) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.34) by $0.15, Fidelity Earnings reports. Molecular Templates had a negative net margin of 509.53% and a negative return on equity of 22.67%.

Molecular Templates stock opened at $4.57 on Wednesday. The company has a market capitalization of $161.87 million, a PE ratio of -2.17 and a beta of 3.09. The company has a current ratio of 3.33, a quick ratio of 3.33 and a debt-to-equity ratio of 0.05. Molecular Templates has a fifty-two week low of $3.87 and a fifty-two week high of $13.25.

In other news, Director Scott D. Morenstein bought 545,454 shares of the company’s stock in a transaction dated Tuesday, September 25th. The shares were acquired at an average cost of $5.50 per share, with a total value of $2,999,997.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David Hirsch bought 365,000 shares of the company’s stock in a transaction dated Friday, September 21st. The stock was purchased at an average cost of $5.50 per share, for a total transaction of $2,007,500.00. The disclosure for this purchase can be found here. Company insiders own 52.00% of the company’s stock.

A hedge fund recently raised its stake in Molecular Templates stock. JPMorgan Chase & Co. lifted its position in Molecular Templates Inc (NASDAQ:MTEM) by 976.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 89,436 shares of the biotechnology company’s stock after acquiring an additional 81,128 shares during the period. JPMorgan Chase & Co. owned about 0.25% of Molecular Templates worth $482,000 as of its most recent SEC filing. Institutional investors own 19.03% of the company’s stock.

Several brokerages have recently issued reports on MTEM. ValuEngine raised shares of Molecular Templates from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. Zacks Investment Research raised shares of Molecular Templates from a “sell” rating to a “hold” rating in a research note on Tuesday, October 9th. Finally, Laidlaw began coverage on shares of Molecular Templates in a research note on Monday, October 8th. They issued a “buy” rating and a $18.00 price objective on the stock.

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About Molecular Templates

Molecular Templates, Inc, a clinical stage biopharmaceutical company, focuses on the discovery and development of biologic therapeutics for the treatment of cancer and other diseases. The company primarily develops a pipeline of engineered toxin bodies. Its lead drug candidate is MT-3724 that is in a Phase I clinical trial for the treatment of relapsed/refractory non-Hodgkin's lymphoma and B-cell lymphoma.

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Earnings History for Molecular Templates (NASDAQ:MTEM)

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