Is Molecular Templates, Inc. (MTEM) a Sell? The Stock Formed Bearish Ascending Triangle Chart Pattern

May 17, 2018 - By Bradley Stiles

The stock of Molecular Templates, Inc. (MTEM) formed an ascending triangle with $7.66 target or 7.00 % below today’s $8.24 share price. The 5 months triangle pattern indicates high risk for the $222.97 million company. If the $7.66 price target is reached, the company will be worth $15.61M less.
The ascending triangle is a questionable performer despite its reputation as a reliable chart pattern. The ascending triangle has break even failure rate for up and down breakouts of 13% and 11%, respectively. The average rise and decline is 35% and 19%. The throwback or so called pullback rates are: 57% and 49%. The stocks meeting their targets is high for this type of breakout: 75% and 68% percent.

The stock increased 0.24% or $0.02 during the last trading session, reaching $8.24. About 320 shares traded. Molecular Templates, Inc. (NASDAQ:MTEM) has risen 38.74% since May 17, 2017 and is uptrending. It has outperformed by 27.19% the S&P500.

More important recent Molecular Templates, Inc. (NASDAQ:MTEM) news were published by: Investingnews.com which released: “Molecular Templates Reports First Quarter 2018 Financial Results” on May 15, 2018, also Nasdaq.com published article titled: “Molecular Templates to Present Clinical Data at the American Society of Clinical Oncology (ASCO) Annual Meeting 2018”, Streetinsider.com published: “Molecular Templates (MTEM) to Present Clinical Data at ASCO” on May 16, 2018. More interesting news about Molecular Templates, Inc. (NASDAQ:MTEM) was released by: Globenewswire.com and their article: “Molecular Templates, Inc. Reports First Quarter 2018 Financial Results” with publication date: May 14, 2018.

Molecular Templates, Inc., a clinical stage biopharmaceutical company, focuses on the discovery, development, and commercialization of immunotoxins called engineered toxin bodies for the treatment of cancer and other serious diseases. The company has market cap of $222.97 million. It develops MT-3724, a lead drug candidate that is in a Phase 1 clinical trial in heavily pre-treated non-Hodgkin's lymphoma patients; MT-4019, a preclinical drug candidate targeting CD38; and evofosfamide, an investigational hypoxia-activated prodrug of a bis-alkylating agent that is preferentially activated under severe hypoxic tumor conditions, a feature of many solid tumors. It currently has negative earnings.

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