Melinta Therapeutics (NASDAQ:MLNT) Stock Price Up 0.9%

Melinta Therapeutics Inc (NASDAQ:MLNT) shares rose 0.9% during mid-day trading on Tuesday . The stock traded as high as $4.65 and last traded at $4.62, approximately 1,625 shares were traded during mid-day trading. A decline of 100% from the average daily volume of 445,102 shares. The stock had previously closed at $4.58.

MLNT has been the topic of several recent research 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 research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $21.15.

The firm’s 50-day moving average price is $3.51 and its two-hundred day moving average price is $3.72. The firm has a market capitalization of $66.83 million, a PE ratio of -0.25 and a beta of 4.54. The company has a quick ratio of 0.87, a current ratio of 1.18 and a debt-to-equity ratio of 1.11.

Melinta Therapeutics (NASDAQ:MLNT) last released its earnings results on Friday, August 9th. The biotechnology company reported ($3.07) earnings per share for the quarter, missing the consensus estimate of ($2.57) by ($0.50). The firm had revenue of $15.96 million during the quarter, compared to analysts’ expectations of $14.00 million. Melinta Therapeutics had a negative return on equity of 60.39% and a negative net margin of 135.23%. Equities research analysts forecast that Melinta Therapeutics Inc will post -9.73 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in MLNT. Bank of Montreal Can increased its position in shares of Melinta Therapeutics by 253.2% in the second quarter. Bank of Montreal Can now owns 5,503 shares of the biotechnology company’s stock worth $37,000 after acquiring an additional 3,945 shares in the last quarter. Morgan Stanley increased its position in shares of Melinta Therapeutics by 82.9% in the second quarter. Morgan Stanley now owns 10,822 shares of the biotechnology company’s stock worth $72,000 after acquiring an additional 4,906 shares in the last quarter. Condor Capital Management purchased a new position in shares of Melinta Therapeutics in the second quarter worth approximately $93,000. Parametric Portfolio Associates LLC purchased a new position in shares of Melinta Therapeutics in the second quarter worth approximately $142,000. Finally, Paloma Partners Management Co purchased a new position in shares of Melinta Therapeutics in the second quarter worth approximately $205,000. 19.45% of the stock is currently owned by institutional investors and hedge funds.

Melinta Therapeutics Company Profile (NASDAQ:MLNT)

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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