Sunday, June 26, 2022

McLennan Sean acquired 30,000 shares of Molecular Templates Inc. [MTEM]

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Molecular Templates Inc. shares valued at $24,477 were purchased by McLennan Sean on Jun 16. At $0.82 per share, McLennan Sean acquired 30,000 shares. The insider’s holdings grew to 30,000 shares worth approximately $26400.0 following the completion of this transaction.

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Also, LALANDE KEVIN M. purchased 62,000 shares, netting a total of over 55,180 in proceeds. Following the buying of shares at $0.89 each, the insider now holds 222,000 shares.

Before that, SHV Management Services, LLC had added 62,000 shares to its account. In a trade valued at $55,180, the 10% Owner bought Molecular Templates Inc. shares for $0.89 each. Upon closing the transaction, the insider’s holdings increased to 62,000 shares, worth approximately $0.2 million.

As published in their initiating research note from BofA Securities on April 21, 2021, Molecular Templates Inc. [MTEM] has been a Buy and the price target has been revised to $12. This represents a 92.67% premium over Wednesday’s closing price. Analysts at UBS started covering the stock with ‘”a Neutral”‘ outlook in a report released in early February. As of September 08, 2020, Jefferies has initiated its “Buy” rating for MTEM. Earlier on March 25, 2020, Stifel initiated its rating. Their recommendation was “a Buy” for MTEM stock.

Analyzing MTEM’s Price Performance

On Wednesday, Molecular Templates Inc. [NASDAQ: MTEM] rose 2.09% to $0.88. The stock’s lowest price that day was $0.8594, but it reached a high of $0.9176 in the same session. During the last five days, there has been a drop of approximately -0.24%. Over the course of the year, Molecular Templates Inc. shares have dropped approximately -77.55%. Shares of the company reached a 52-week high of $4.2400 on 01/11/22 and a 52-week low of $0.7649 on 06/16/22. A 50-day SMA is recorded $1.4200, while a 200-day SMA reached $3.5475. Nevertheless, trading volume fell to 0.39 million shares from 0.29 million shares the previous day.

Support And Resistance Levels for Molecular Templates Inc. (MTEM)

According to the 24-hour chart, there is a support level at 0.8537, which, if violated, would cause prices to drop to 0.8275. In the upper region, resistance lies at 0.9119. The next price resistance is at 0.9439. RSI (Relative Strength Index) is 36.20 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.0776, which suggests the price will decrease in the coming days. Percent R is at 75.25%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Which companies own the most shares of Molecular Templates Inc. (MTEM)?

According to Bellevue Asset Management AG filings, the company currently owns 11,192,003 shares, which is about 19.86% of the total MTEM shares outstanding. The investor’s shares have appreciated by 114,000 from its previous 13-F filing of 11078003.0 shares. With the completion of the buy, BVF Partners LP’s stake is now worth $3,998,174. Pictet Asset Management SA reduced a -2.81% interest valued at $3.17 million while BlackRock Fund Advisors sold a -17,642 stake. A total of -5,583 shares of Molecular Templates Inc. were sold by The Vanguard Group, Inc. during the quarter, and -85,000 were sold by Caxton Corp. In its current portfolio, Adage Capital Management LP holds 1,200,000 shares valued at $1.19 million.

In terms of Molecular Templates Inc. share price expectations, FactSet research, analysts set an average price target of $9.33 in the next 12 months, up nearly 946.51% from the previous closing price of $0.86. Analysts anticipate Molecular Templates Inc. stock to reach $18.00 by 2022, with the lowest price target being $1.50. In spite of this, 7 analysts ranked Molecular Templates Inc. stock as an Overweight at the end of 2022. On February 27, 2020, Barclays assigned a price target of “an Overweight” to the stock and initiated coverage with a $22.

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