Molecular Templates, Inc. (NASDAQ:MTEM) Sees Significant Growth in Short Interest

Molecular Templates, Inc. (NASDAQ:MTEM) was the recipient of a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 2,460,000 shares, an increase of 810.8% from the October 31st total of 270,100 shares. Based on an average trading volume of 10,020,000 shares, the days-to-cover ratio is currently 0.2 days. Approximately 45.2% of the company’s shares are sold short.

Insider Buying and Selling at Molecular Templates

In other news, major shareholder Target N. V. Biotech sold 1,279,820 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $0.66, for a total transaction of $844,681.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 13.90% of the company’s stock.

Molecular Templates Stock Performance

Shares of MTEM stock remained flat at $0.37 during trading hours on Thursday. The stock had a trading volume of 2,548,851 shares, compared to its average volume of 2,901,174. Molecular Templates has a 52 week low of $0.30 and a 52 week high of $5.37. The firm has a 50 day moving average of $0.78 and a two-hundred day moving average of $1.15. The company has a market capitalization of $2.46 million, a P/E ratio of -0.14 and a beta of 1.22.

About Molecular Templates

Molecular Templates, Inc, a clinical stage biopharmaceutical company, focuses on the discovery and development of biologic therapeutics for the treatment of cancer and other serious diseases in the United States. The company develops therapies through its proprietary biologic drug platform technology (ETB).