Molecular Templates, Inc. (NASDAQ:MTEM) Short Interest Up 508.3% in April

Molecular Templates, Inc. (NASDAQ:MTEM) saw a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 205,600 shares, a growth of 508.3% from the March 31st total of 33,800 shares. Approximately 7.0% of the company’s stock are sold short. Based on an average daily volume of 61,600 shares, the short-interest ratio is currently 3.3 days.

Molecular Templates Price Performance

Shares of MTEM traded down $0.05 during mid-day trading on Thursday, reaching $1.59. 47,796 shares of the company’s stock were exchanged, compared to its average volume of 52,340. The stock has a market capitalization of $8.54 million, a PE ratio of -1.03 and a beta of 1.15. The business’s fifty day simple moving average is $2.62 and its 200-day simple moving average is $3.89. Molecular Templates has a 52-week low of $1.40 and a 52-week high of $9.45.

Molecular Templates (NASDAQ:MTEM) last announced its earnings results on Friday, March 29th. The biotechnology company reported ($0.73) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.10) by $1.37. The business had revenue of $7.02 million for the quarter. Molecular Templates had a negative net margin of 14.18% and a negative return on equity of 9,335.53%. Equities research analysts predict that Molecular Templates will post -2.7 earnings per share for the current year.

Insider Buying and Selling at Molecular Templates

In other Molecular Templates news, major shareholder Target N. V. Biotech bought 250,000 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were acquired at an average cost of $2.35 per share, for a total transaction of $587,500.00. Following the completion of the transaction, the insider now owns 1,279,820 shares in the company, valued at approximately $3,007,577. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 18.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Molecular Templates

An institutional investor recently bought a new position in Molecular Templates stock. Silverarc Capital Management LLC purchased a new position in shares of Molecular Templates, Inc. (NASDAQ:MTEM) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 354,608 shares of the biotechnology company’s stock, valued at approximately $2,241,000. Silverarc Capital Management LLC owned 6.59% of Molecular Templates at the end of the most recent reporting period. Institutional investors and hedge funds own 95.47% of the company’s stock.

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 serious diseases in the United States. The company primarily develops therapies through its proprietary biologic engineered toxin body (ETB) drug platform.