Molecular Templates, Inc. (NASDAQ:MTEM) Stake Cut by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP reduced its holdings in Molecular Templates, Inc. (NASDAQ:MTEM) by 10.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 291,966 shares of the biotechnology company’s stock after selling 35,413 shares during the period. Dimensional Fund Advisors LP’s holdings in Molecular Templates were worth $2,742,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Citigroup Inc. lifted its stake in Molecular Templates by 184.8% in the 4th quarter. Citigroup Inc. now owns 5,627 shares of the biotechnology company’s stock worth $53,000 after acquiring an additional 3,651 shares in the last quarter. Jane Street Group LLC purchased a new stake in Molecular Templates in the 4th quarter worth about $95,000. SG Americas Securities LLC purchased a new stake in Molecular Templates in the 4th quarter worth about $99,000. Credit Suisse AG purchased a new stake in Molecular Templates in the 4th quarter worth about $116,000. Finally, The Manufacturers Life Insurance Company lifted its stake in Molecular Templates by 14.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 17,317 shares of the biotechnology company’s stock worth $163,000 after acquiring an additional 2,199 shares in the last quarter. 63.04% of the stock is owned by hedge funds and other institutional investors.

In other Molecular Templates news, major shareholder Target N. V. Biotech bought 150,000 shares of the stock in a transaction on Wednesday, April 14th. The shares were purchased at an average price of $8.37 per share, with a total value of $1,255,500.00. Following the acquisition, the insider now directly owns 9,201,769 shares of the company’s stock, valued at approximately $77,018,806.53. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Target N. V. Biotech acquired 40,852 shares of the firm’s stock in a transaction dated Monday, April 19th. The shares were purchased at an average cost of $8.08 per share, for a total transaction of $330,084.16. Following the acquisition, the insider now directly owns 9,542,621 shares in the company, valued at approximately $77,104,377.68. The disclosure for this purchase can be found here. Insiders acquired a total of 1,020,852 shares of company stock worth $8,905,584 in the last ninety days. Insiders own 27.50% of the company’s stock.

Several equities research analysts recently issued reports on the company. Zacks Investment Research raised Molecular Templates from a “sell” rating to a “hold” rating in a research note on Wednesday. Jefferies Financial Group raised their price target on Molecular Templates from $18.00 to $20.00 in a research note on Tuesday, April 6th. Oppenheimer cut their price target on Molecular Templates from $18.00 to $13.00 and set an “outperform” rating for the company in a research note on Thursday, April 15th. Finally, Bank of America assumed coverage on Molecular Templates in a research note on Wednesday, April 21st. They set a “buy” rating and a $12.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $14.20.

Shares of NASDAQ MTEM opened at $8.93 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.73 and a current ratio of 2.73. The firm has a market cap of $500.93 million, a price-to-earnings ratio of -4.00 and a beta of 1.28. The firm’s 50-day moving average is $8.80. Molecular Templates, Inc. has a 52 week low of $7.51 and a 52 week high of $16.41.

Molecular Templates (NASDAQ:MTEM) last issued its quarterly earnings data on Thursday, May 13th. The biotechnology company reported ($0.51) EPS for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.82). Molecular Templates had a negative net margin of 611.90% and a negative return on equity of 138.03%. As a group, analysts predict that Molecular Templates, Inc. will post -1.53 earnings per share for the current year.

Molecular Templates 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. Its proprietary drug platform technology is engineered toxin bodies (ETBs). The company's lead drug candidate is MT-3724 that is in a Phase II clinical trial for the treatment of relapsed and refractory diffuse large B-cell lymphoma; and Phase II clinical trial for treating non-Hodgkin's lymphoma.

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Institutional Ownership by Quarter for Molecular Templates (NASDAQ:MTEM)

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