Melinta Therapeutics Inc (MLNT) Shares Sold by Millennium Management LLC

Millennium Management LLC trimmed its stake in Melinta Therapeutics Inc (NASDAQ:MLNT) by 20.4% in the fourth quarter, HoldingsChannel reports. The firm owned 600,185 shares of the biotechnology company’s stock after selling 154,151 shares during the quarter. Millennium Management LLC’s holdings in Melinta Therapeutics were worth $476,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Rhumbline Advisers raised its position in Melinta Therapeutics by 59.1% during the fourth quarter. Rhumbline Advisers now owns 44,129 shares of the biotechnology company’s stock valued at $35,000 after acquiring an additional 16,400 shares in the last quarter. Condor Capital Management bought a new position in Melinta Therapeutics during the fourth quarter valued at approximately $55,000. Bank of New York Mellon Corp raised its position in Melinta Therapeutics by 11.3% during the fourth quarter. Bank of New York Mellon Corp now owns 142,938 shares of the biotechnology company’s stock valued at $113,000 after acquiring an additional 14,567 shares in the last quarter. Boenning & Scattergood Inc. raised its position in Melinta Therapeutics by 265.4% during the fourth quarter. Boenning & Scattergood Inc. now owns 174,500 shares of the biotechnology company’s stock valued at $138,000 after acquiring an additional 126,750 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in Melinta Therapeutics during the fourth quarter valued at approximately $139,000.

MLNT has been the topic of several recent research reports. ValuEngine lowered shares of Melinta Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, February 23rd. Zacks Investment Research raised shares of Melinta Therapeutics from a “hold” rating to a “strong-buy” rating and set a $7.50 price objective on the stock in a research report on Thursday, February 21st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $55.00.

Shares of MLNT opened at $4.50 on Wednesday. Melinta Therapeutics Inc has a twelve month low of $3.20 and a twelve month high of $46.00. The company has a market cap of $50.54 million, a P/E ratio of -0.25 and a beta of 2.31. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 1.12.

Melinta Therapeutics (NASDAQ:MLNT) last announced its quarterly earnings data on Wednesday, March 13th. The biotechnology company reported ($1.93) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.01) by ($0.92). The firm had revenue of $35.49 million for the quarter, compared to the consensus estimate of $17.77 million. Melinta Therapeutics had a negative return on equity of 60.83% and a negative net margin of 163.01%. Analysts predict that Melinta Therapeutics Inc will post -10.31 earnings per share for the current year.

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About Melinta Therapeutics

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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Institutional Ownership by Quarter for Melinta Therapeutics (NASDAQ:MLNT)

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