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

Molecular Templates, Inc. (NASDAQ:MTEM) was the target of a significant increase in short interest in 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 daily trading volume, of 10,020,000 shares, the days-to-cover ratio is currently 0.2 days. Currently, 45.2% of the shares of the stock are sold short.

Insiders Place Their Bets

In other Molecular Templates news, major shareholder Target N. V. Biotech sold 1,279,820 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $0.66, for a total value of $844,681.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 13.90% of the stock is owned by insiders.

Molecular Templates Price Performance

Shares of Molecular Templates stock traded up $0.01 during trading on Wednesday, hitting $0.38. 1,691,174 shares of the company’s stock traded hands, compared to its average volume of 2,897,857. The stock has a market capitalization of $2.47 million, a P/E ratio of -0.14 and a beta of 1.22. The business has a 50-day simple moving average of $0.80 and a 200-day simple moving average of $1.16. Molecular Templates has a 1 year low of $0.30 and a 1 year high of $5.37.

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).