Melinta Therapeutics (MLNT) Sets New 12-Month High and Low at $6.65

Melinta Therapeutics, Inc. (NASDAQ:MLNT) reached a new 52-week high and low during mid-day trading on Friday . The stock traded as low as $6.65 and last traded at $6.90, with a volume of 272549 shares traded. The stock had previously closed at $7.10.

Several brokerages have recently weighed in on MLNT. Zacks Investment Research downgraded shares of Melinta Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, February 8th. BidaskClub downgraded shares of Melinta Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $3.56.

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The company has a market cap of $241.20, a price-to-earnings ratio of -0.32 and a beta of 1.37. The company has a debt-to-equity ratio of 0.55, a quick ratio of 4.38 and a current ratio of 4.72.

Melinta Therapeutics (NASDAQ:MLNT) last announced its earnings results on Tuesday, March 13th. The biotechnology company reported ($1.48) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($0.89). The firm had revenue of $4.23 million during the quarter, compared to analysts’ expectations of $3.28 million. Melinta Therapeutics had a negative net margin of 550.46% and a negative return on equity of 45.75%. analysts forecast that Melinta Therapeutics, Inc. will post -4.82 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in MLNT. Vatera Holdings LLC purchased a new position in shares of Melinta Therapeutics in the fourth quarter valued at $106,325,000. BlackRock Inc. bought a new position in Melinta Therapeutics during the 4th quarter valued at $9,550,000. Millennium Management LLC bought a new position in Melinta Therapeutics during the 4th quarter valued at $4,407,000. Sphera Funds Management LTD. bought a new position in Melinta Therapeutics during the 4th quarter valued at $3,160,000. Finally, Deutsche Bank AG bought a new position in Melinta Therapeutics during the 4th quarter valued at $1,464,000. Institutional investors and hedge funds own 36.99% of the company’s stock.

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About Melinta Therapeutics

Melinta Therapeutics, Inc develops and commercializes novel antibiotics designed to provide therapeutic solutions. The Company’s lead product is Baxdela, an antibiotic approved by the United States food and drug administration (FDA) for use in the treatment of acute bacterial skin and skin structure infections (ABSSSI).

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