Shares of Melinta Therapeutics, Inc. (NASDAQ:MLNT) have earned a consensus rating of “Hold” from the nine analysts that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $11.50.
A number of equities analysts have recently issued reports on the stock. ValuEngine upgraded shares of Melinta Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. Cantor Fitzgerald reiterated a “buy” rating and set a $15.00 price objective on shares of Melinta Therapeutics in a research note on Friday, August 3rd. Zacks Investment Research downgraded shares of Melinta Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, August 7th. WBB Securities upgraded shares of Melinta Therapeutics from a “hold” rating to a “buy” rating and set a $8.00 price objective on the stock in a research note on Friday, May 25th. Finally, Robert W. Baird upgraded shares of Melinta Therapeutics from a “neutral” rating to an “outperform” rating in a research note on Wednesday, May 9th.
Shares of NASDAQ MLNT traded down $0.05 during midday trading on Tuesday, reaching $4.85. 218,572 shares of the company’s stock traded hands, compared to its average volume of 382,349. The company has a current ratio of 1.48, a quick ratio of 1.20 and a debt-to-equity ratio of 0.53. Melinta Therapeutics has a one year low of $4.68 and a one year high of $18.20.
In other news, CFO Paul Estrem bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 29th. The stock was bought at an average price of $5.00 per share, with a total value of $50,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David N. Gill bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 25th. The shares were purchased at an average cost of $6.09 per share, with a total value of $30,450.00. The disclosure for this purchase can be found here. Insiders have purchased 23,276,000 shares of company stock valued at $116,385,450 in the last three months. 27.80% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of MLNT. Highbridge Capital Management LLC purchased a new position in shares of Melinta Therapeutics in the first quarter worth $108,000. Wells Fargo & Company MN purchased a new position in shares of Melinta Therapeutics in the fourth quarter worth $123,000. Engineers Gate Manager LP purchased a new position in shares of Melinta Therapeutics in the first quarter worth $157,000. Rhumbline Advisers purchased a new position in shares of Melinta Therapeutics in the fourth quarter worth $161,000. Finally, California State Teachers Retirement System raised its holdings in shares of Melinta Therapeutics by 48.5% in the first quarter. California State Teachers Retirement System now owns 23,035 shares of the biotechnology company’s stock worth $170,000 after buying an additional 7,520 shares during the last quarter. 58.52% of the stock is owned by institutional investors.
Melinta Therapeutics Company 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, an antibiotic for the treatment of acute bacterial skin and skin structure infections (ABSSSI); Vabomere, a carbapenem used in treatment of gram-negative infections; Orbactiv, an 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, as well as Solithromycin, a macrolide antibiotic for the treatment of CABP.
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