Molecular Templates Inc’s filing revealed that its 10% Owner BIOTECH TARGET N V acquired Company’s shares for reported $0.59 million on Apr 02 ’24. In the deal valued at $2.35 per share,250,000 shares were bought. As a result of this transaction, BIOTECH TARGET N V now holds 1,279,820 shares worth roughly $2.37 million.
Then, BIOTECH TARGET N V bought 4,255,319 shares, generating $2,000,000 in total proceeds. Upon buying the shares at $0.47, the 10% Owner now owns 15,447,322 shares.
BofA Securities initiated its Molecular Templates Inc [MTEM] rating to a Buy in a research note published on April 21, 2021; the price target was $12. A number of analysts have revised their coverage, including UBS’s analysts, who began to cover the stock in early February with a ‘”a Neutral”‘ rating. Jefferies began covering MTEM with “Buy” recommendation on September 08, 2020. Stifel started covering the stock on March 25, 2020. It rated MTEM as “a Buy”.
Price Performance Review of MTEM
On Tuesday, Molecular Templates Inc [NASDAQ:MTEM] saw its stock fall -6.57% to $1.85. Over the last five days, the stock has lost -2.63%. Molecular Templates Inc shares have fallen nearly -50.40% since the year began. Nevertheless, the stocks have fallen -73.19% over the past one year. While a 52-week high of $9.45 was reached on 03/04/24, a 52-week low of $1.68 was recorded on 03/20/24. SMA at 50 days reached $3.0722, while 200 days put it at $5.4725. A total of 1.76 million shares were traded, compared to the trading of 21100.0 shares in the previous session.
Levels Of Support And Resistance For MTEM Stock
The 24-hour chart illustrates a support level at 1.6810, which if violated will result in even more drops to 1.5120. On the upside, there is a resistance level at 2.0295. A further resistance level may holdings at 2.2090. The Relative Strength Index (RSI) on the 14-day chart is 33.61, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.0683, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 84.55%. Stochastics %K at 23.33% indicates the stock is a holding.
How much short interest is there in Molecular Templates Inc?
A steep rise in short interest was recorded in Molecular Templates Inc stocks on Mar 15, 2024, dropping by 29350.0 shares to a total of 27300.0 shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 56650.0 shares. There was a decline of -107.51%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 0.71% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.77.
The most recent change occurred on February 27, 2020 when Barclays began covering the stock and recommended ‘”an Overweight”‘ rating along with a $22 price target.
