Melinta Therapeutics (NASDAQ:MLNT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday.

According to Zacks, “Melinta Therapeutics, Inc. develops and commercializes novel antibiotics designed to provide new and better therapeutic solutions. Melinta’s lead product is Baxdela, an antibiotic approved by the US FDA for use in the treatment of acute bacterial skin and skin structure infections (ABSSSI). Melinta also has an extensive pipeline of preclinical and clinical stage products that were developed internally or assumed under the 2017 acquisition of Cempra, Inc. This pipeline includes many important classes of antibiotics, each targeted at a different segment of the anti-infective market. Melinta is headquartered in New Haven, CT. “

Several other analysts have also issued reports on MLNT. BidaskClub lowered Melinta Therapeutics from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd. ValuEngine raised Melinta Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. Gabelli raised Melinta Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, November 30th. Ladenburg Thalmann Financial Services raised Melinta Therapeutics from a “neutral” rating to a “buy” rating in a research report on Thursday, November 30th. Finally, Robert W. Baird raised Melinta Therapeutics from an “underperform” rating to a “neutral” rating and set a $2.00 price target on the stock in a research report on Wednesday, November 1st. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $3.56.

Melinta Therapeutics (MLNT) traded down $0.26 on Thursday, reaching $12.59. The company had a trading volume of 45,232 shares, compared to its average volume of 139,409. Melinta Therapeutics has a fifty-two week low of $10.25 and a fifty-two week high of $24.25. The company has a market capitalization of $393.13, a price-to-earnings ratio of -1.33 and a beta of 1.01. The company has a quick ratio of 11.49, a current ratio of 11.49 and a debt-to-equity ratio of 0.03.

In other news, Director Vatera Healthcare Partners Llc bought 5,777,778 shares of the firm’s stock in a transaction dated Friday, January 5th. The shares were bought at an average price of $13.50 per share, with a total value of $78,000,003.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 31.50% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of MLNT. Bank of Montreal Can acquired a new position in shares of Melinta Therapeutics in the fourth quarter valued at approximately $123,000. Franklin Street Advisors Inc. NC acquired a new position in shares of Melinta Therapeutics in the fourth quarter valued at approximately $204,000. Alambic Investment Management L.P. acquired a new position in shares of Melinta Therapeutics in the fourth quarter valued at approximately $207,000. Teton Advisors Inc. acquired a new position in shares of Melinta Therapeutics in the fourth quarter valued at approximately $237,000. Finally, California Public Employees Retirement System acquired a new position in shares of Melinta Therapeutics in the fourth quarter valued at approximately $246,000.

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Melinta Therapeutics Company Profile

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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