BofA Securities slashes price target on Molecular Templates Inc. [MTEM] – find out why.

Molecular Templates Inc. [NASDAQ: MTEM] gained 7.49% on the last trading session, reaching $0.51 price per share at the time. The company report on March 9, 2023 that Molecular Templates Announces IND Acceptance by FDA for MT-8421 ETB Program Targeting CTLA-4.

“MT-8421 represents a novel approach to target CTLA-4 in a wholly distinct manner from the current monoclonal antibody approaches. MT-8421 was designed to eliminate CTLA-4-expressing Tregs in the tumor microenvironment (“TME”) through a direct cell-kill mechanism independent of the effector cell presence that antibodies rely upon while not effecting Tregs in the periphery, the major mechanism of antibody-mediated autoimmune toxicity,” said Eric Poma, Chief Executive Officer and Chief Scientific Officer of MTEM.

Molecular Templates Inc. represents 56.35 million in outstanding shares, while the company has a total market value of $26.51 million with the latest information. MTEM stock price has been found in the range of $0.48 to $0.6375.

If compared to the average trading volume of 145.59K shares, MTEM reached a trading volume of 33136222 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Molecular Templates Inc. [MTEM]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MTEM shares is $10.12 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MTEM stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for Molecular Templates Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 21, 2021. While these analysts kept the previous recommendation, UBS raised their target price to Neutral. The new note on the price target was released on February 01, 2021, representing the official price target for Molecular Templates Inc. stock. Previously, the target price had yet another raise to $21, while Jefferies analysts kept a Buy rating on MTEM stock.

The Average True Range (ATR) for Molecular Templates Inc. is set at 0.05, with the Price to Sales ratio for MTEM stock in the period of the last 12 months amounting to 0.76. The Price to Book ratio for the last quarter was 7.22, with the Price to Cash per share for the same quarter was set at 1.51.

Trading performance analysis for MTEM stock

Molecular Templates Inc. [MTEM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.31. With this latest performance, MTEM shares gained by 2.93% in over the last four-week period, additionally sinking by -40.03% over the last 6 months – not to mention a drop of -80.19% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MTEM stock in for the last two-week period is set at 56.09, with the RSI for the last a single of trading hit 60.81, and the three-weeks RSI is set at 53.60 for Molecular Templates Inc. [MTEM]. The present Moving Average for the last 50 days of trading for this stock 0.4755, while it was recorded at 0.4713 for the last single week of trading, and 0.6805 for the last 200 days.

Molecular Templates Inc. [MTEM]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Molecular Templates Inc. [MTEM] shares currently have an operating margin of -206.93 and a Gross Margin at +82.69. Molecular Templates Inc.’s Net Margin is presently recorded at -214.51.

Return on Equity for this stock declined to -132.81, with Return on Assets sitting at -49.97.

Molecular Templates Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.70 and a Current Ratio set at 1.70.

Molecular Templates Inc. [MTEM]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MTEM. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Molecular Templates Inc. go to 3.20%.

An analysis of insider ownership at Molecular Templates Inc. [MTEM]

There are presently around $14 million, or 74.50% of MTEM stock, in the hands of institutional investors. The top three institutional holders of MTEM stocks are: BELLEVUE GROUP AG with ownership of 11,278,003, which is approximately 0% of the company’s market cap and around 0.20% of the total institutional ownership; BVF INC/IL, holding 4,996,565 shares of the stock with an approximate value of $2.52 million in MTEM stocks shares; and VANGUARD GROUP INC, currently with $1.12 million in MTEM stock with ownership of nearly -4.462% of the company’s market capitalization.

Positions in Molecular Templates Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 15 institutional holders increased their position in Molecular Templates Inc. [NASDAQ:MTEM] by around 1,541,087 shares. Additionally, 32 investors decreased positions by around 5,514,508 shares, while 20 investors held positions by with 21,384,571 shares. The mentioned changes placed institutional holdings at 28,440,166 shares, according to the latest SEC report filing. MTEM stock had 6 new institutional investments in for a total of 1,143,893 shares, while 14 institutional investors sold positions of 3,451,900 shares during the same period.