Northern Trust Corp Has $509,000 Stake in Molecular Templates Inc (MTEM)
Northern Trust Corp grew its stake in Molecular Templates Inc (NASDAQ:MTEM) by 338.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 97,228 shares of the biotechnology company’s stock after purchasing an additional 75,076 shares during the period. Northern Trust Corp’s holdings in Molecular Templates were worth $509,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. Bank of New York Mellon Corp acquired a new stake in shares of Molecular Templates during the 2nd quarter worth about $138,000. BlackRock Inc. increased its position in shares of Molecular Templates by 299.0% during the 2nd quarter. BlackRock Inc. now owns 579,464 shares of the biotechnology company’s stock worth $3,030,000 after purchasing an additional 434,249 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Molecular Templates by 168.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 71,266 shares of the biotechnology company’s stock worth $373,000 after purchasing an additional 44,673 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Molecular Templates by 26.9% during the 2nd quarter. Renaissance Technologies LLC now owns 177,316 shares of the biotechnology company’s stock worth $927,000 after purchasing an additional 37,600 shares in the last quarter. Finally, Nexthera Capital LP acquired a new stake in shares of Molecular Templates during the 2nd quarter worth about $902,000. 35.81% of the stock is owned by institutional investors and hedge funds.
In related news, Director David Hirsch acquired 365,000 shares of the firm’s stock in a transaction on Friday, September 21st. The shares were purchased at an average price of $5.50 per share, with a total value of $2,007,500.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Scott D. Morenstein acquired 545,454 shares of the firm’s stock in a transaction on Tuesday, September 25th. The shares were bought at an average cost of $5.50 per share, for a total transaction of $2,999,997.00. The disclosure for this purchase can be found here. 52.00% of the stock is owned by corporate insiders.
Molecular Templates (NASDAQ:MTEM) last issued its quarterly earnings data on Thursday, November 15th. The biotechnology company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.15. Molecular Templates had a negative net margin of 118.65% and a negative return on equity of 14.12%. The firm had revenue of $6.75 million for the quarter. On average, equities research analysts expect that Molecular Templates Inc will post -0.63 EPS for the current year.
A number of brokerages recently issued reports on MTEM. Cowen began coverage on shares of Molecular Templates in a research report on Tuesday, November 20th. They set an “outperform” rating for the company. Evercore ISI began coverage on shares of Molecular Templates in a research report on Thursday, November 15th. They set an “outperform” rating for the company. Zacks Investment Research upgraded shares of Molecular Templates from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. ValuEngine cut shares of Molecular Templates from a “hold” rating to a “sell” rating in a research report on Tuesday, September 4th. Finally, Laidlaw began coverage on shares of Molecular Templates in a research report on Monday, October 8th. They set a “buy” rating and a $18.00 target price for the company. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $18.00.
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Molecular Templates Company Profile
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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