ClariVest Asset Management LLC Purchases New Stake in Melinta Therapeutics, Inc. (MLNT)
ClariVest Asset Management LLC purchased a new position in shares of Melinta Therapeutics, Inc. (NASDAQ:MLNT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 64,800 shares of the biotechnology company’s stock, valued at approximately $412,000. ClariVest Asset Management LLC owned approximately 0.21% of Melinta Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in the business. Wells Fargo & Company MN purchased a new stake in shares of Melinta Therapeutics in the 4th quarter worth about $123,000. Schwab Charles Investment Management Inc. boosted its stake in Melinta Therapeutics by 56.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 74,668 shares of the biotechnology company’s stock worth $553,000 after purchasing an additional 27,047 shares in the last quarter. Engineers Gate Manager LP bought a new position in Melinta Therapeutics in the 1st quarter worth about $157,000. Northern Trust Corp boosted its stake in Melinta Therapeutics by 48.0% in the 1st quarter. Northern Trust Corp now owns 166,112 shares of the biotechnology company’s stock worth $1,229,000 after purchasing an additional 53,889 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in Melinta Therapeutics by 41.8% in the 1st quarter. BlackRock Inc. now owns 857,398 shares of the biotechnology company’s stock worth $6,344,000 after purchasing an additional 252,943 shares in the last quarter. 68.60% of the stock is owned by institutional investors.
Shares of Melinta Therapeutics stock opened at $4.40 on Friday. The stock has a market capitalization of $246.44 million, a P/E ratio of -0.20 and a beta of 1.16. Melinta Therapeutics, Inc. has a 1 year low of $4.00 and a 1 year high of $18.20. The company has a current ratio of 1.97, a quick ratio of 1.65 and a debt-to-equity ratio of 0.41.
A number of equities analysts recently issued reports on MLNT shares. Cantor Fitzgerald started coverage on shares of Melinta Therapeutics in a research note on Sunday, July 1st. They issued a “buy” rating and a $15.00 price target on the stock. WBB Securities upgraded shares of Melinta Therapeutics from a “hold” rating to a “buy” rating and set a $8.00 price target on the stock in a research note on Friday, May 25th. Zacks Investment Research upgraded shares of Melinta Therapeutics from a “hold” rating to a “buy” rating and set a $6.75 price target on the stock in a research note on Wednesday, July 18th. Finally, ValuEngine upgraded shares of Melinta Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. Melinta Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $6.95.
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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