Melinta Therapeutics (NASDAQ:MLNT) Stock Price Up 14%

Melinta Therapeutics Inc (NASDAQ:MLNT) shares rose 14% during mid-day trading on Monday . The company traded as high as $2.80 and last traded at $2.69, approximately 683,062 shares were traded during trading. A decline of 48% from the average daily volume of 1,316,688 shares. The stock had previously closed at $2.36.

MLNT has been the subject of a number of recent analyst reports. HC Wainwright lowered shares of Melinta Therapeutics from a “buy” rating to a “neutral” rating in a research note on Monday, August 12th. ValuEngine upgraded Melinta Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, July 22nd. WBB Securities lowered Melinta Therapeutics from a “speculative buy” rating to a “hold” rating in a report on Thursday, June 20th. JPMorgan Chase & Co. lowered Melinta Therapeutics from a “neutral” rating to an “underweight” rating in a report on Friday, June 14th. Finally, Zacks Investment Research lowered Melinta Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $27.21.

The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $34.48 million, a price-to-earnings ratio of -0.14 and a beta of 4.30. The firm has a 50-day moving average of $4.11 and a 200 day moving average of $3.84.

Melinta Therapeutics (NASDAQ:MLNT) last posted its earnings results on Friday, August 9th. The biotechnology company reported ($3.07) EPS for the quarter, missing the consensus estimate of ($2.57) by ($0.50). Melinta Therapeutics had a negative net margin of 135.23% and a negative return on equity of 55.97%. The business had revenue of $15.96 million during the quarter, compared to analyst estimates of $14.00 million. Equities research analysts predict that Melinta Therapeutics Inc will post -9.82 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Melinta Therapeutics by 4.4% in the fourth quarter. BlackRock Inc. now owns 2,532,235 shares of the biotechnology company’s stock valued at $2,008,000 after purchasing an additional 106,721 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Melinta Therapeutics by 6.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 772,725 shares of the biotechnology company’s stock valued at $613,000 after purchasing an additional 48,907 shares during the period. Deutsche Bank AG boosted its stake in shares of Melinta Therapeutics by 979.8% during the fourth quarter. Deutsche Bank AG now owns 751,625 shares of the biotechnology company’s stock valued at $595,000 after purchasing an additional 682,014 shares during the period. Vanguard Group Inc. boosted its stake in shares of Melinta Therapeutics by 97.2% during the second quarter. Vanguard Group Inc. now owns 442,455 shares of the biotechnology company’s stock valued at $2,942,000 after purchasing an additional 218,085 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Melinta Therapeutics by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 418,753 shares of the biotechnology company’s stock valued at $331,000 after purchasing an additional 13,337 shares during the period. Institutional investors and hedge funds own 17.67% of the company’s stock.

About Melinta Therapeutics (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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