Northern Trust Corp trimmed its position in Melinta Therapeutics Inc (NASDAQ:MLNT) by 7.6% during the second quarter, HoldingsChannel.com reports. The fund owned 72,455 shares of the biotechnology company’s stock after selling 5,984 shares during the quarter. Northern Trust Corp’s holdings in Melinta Therapeutics were worth $482,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Bank of Montreal Can increased its stake in Melinta Therapeutics by 253.2% in the second quarter. Bank of Montreal Can now owns 5,503 shares of the biotechnology company’s stock valued at $37,000 after acquiring an additional 3,945 shares during the last quarter. Condor Capital Management bought a new position in Melinta Therapeutics in the second quarter valued at approximately $93,000. Bank of New York Mellon Corp increased its stake in Melinta Therapeutics by 80.2% in the second quarter. Bank of New York Mellon Corp now owns 49,377 shares of the biotechnology company’s stock valued at $328,000 after acquiring an additional 21,971 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in Melinta Therapeutics by 90.7% in the second quarter. Renaissance Technologies LLC now owns 243,932 shares of the biotechnology company’s stock valued at $1,622,000 after acquiring an additional 116,038 shares during the last quarter. 19.45% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:MLNT opened at $4.28 on Monday. The company’s 50 day simple moving average is $3.25 and its 200 day simple moving average is $3.70. The stock has a market capitalization of $60.23 million, a price-to-earnings ratio of -0.24 and a beta of 4.54. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.18 and a quick ratio of 0.87. Melinta Therapeutics Inc has a 1 year low of $1.62 and a 1 year high of $19.85.
Melinta Therapeutics (NASDAQ:MLNT) last announced its quarterly earnings data on Friday, August 9th. The biotechnology company reported ($3.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.57) by ($0.50). The firm had revenue of $15.96 million during the quarter, compared to the consensus estimate of $14.00 million. Melinta Therapeutics had a negative net margin of 135.23% and a negative return on equity of 60.39%. As a group, analysts anticipate that Melinta Therapeutics Inc will post -9.73 EPS for the current fiscal year.
MLNT has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of Melinta Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, August 17th. ValuEngine raised shares of Melinta Therapeutics from a “hold” rating to a “buy” rating in a research note on Wednesday, September 4th. Finally, HC Wainwright cut shares of Melinta Therapeutics from a “buy” rating to a “neutral” rating in a research note on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. Melinta Therapeutics currently has an average rating of “Hold” and a consensus target price of $27.21.
Melinta Therapeutics Profile
Melinta Therapeutics, Inc, a commercial-stage pharmaceutical company, discovers, develops, and commercializes various anti-infectives for the treatment of bacterial infectious diseases in North America. It offers Baxdela, a monotherapy treatment of adult patients with acute bacterial skin or skin structure infections (ABSSSIs); Vabomere, an IV antibiotic used in treatment of gram-negative infections; Orbactiv, an IV antibiotic of the lipoglycopeptide class for the treatment of adult patients with ABSSSIs; and Minocin, a IV antibiotic of the tetracycline class with activity against gram-positive and gram-negative pathogens.
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