Wells Fargo & Company MN increased its position in shares of Menlo Therapeutics Inc (NASDAQ:MNLO) by 28.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,136 shares of the company’s stock after purchasing an additional 6,622 shares during the quarter. Wells Fargo & Company MN’s holdings in Menlo Therapeutics were worth $180,000 at the end of the most recent reporting period.
Separately, Acadian Asset Management LLC lifted its position in Menlo Therapeutics by 18.0% during the first quarter. Acadian Asset Management LLC now owns 42,314 shares of the company’s stock worth $333,000 after purchasing an additional 6,459 shares during the period. 76.54% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research cut shares of Menlo Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, July 3rd. ValuEngine raised shares of Menlo Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st.
Menlo Therapeutics (NASDAQ:MNLO) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.69) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.84) by $0.15. As a group, analysts anticipate that Menlo Therapeutics Inc will post -3.1 EPS for the current fiscal year.
Menlo Therapeutics Profile
Menlo Therapeutics Inc, a late-stage biopharmaceutical company, focuses on the development and commercialization of serlopitant for the treatment of pruritus associated with dermatologic conditions in the United States. The company has completed Phase II clinical trials in pruritus associated with prurigo nodularis; psoriasis; chronic pruritus; atopic dermatitis; and refractory chronic cough.
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