Millendo Therapeutics (NASDAQ:MLND) Shares Gap Down to $2.66

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Millendo Therapeutics Inc (NASDAQ:MLND) shares gapped down prior to trading on Monday . The stock had previously closed at $2.72, but opened at $2.66. Millendo Therapeutics shares last traded at $2.66, with a volume of 6,898,100 shares trading hands.

MLND has been the subject of several research reports. Oppenheimer restated a “hold” rating and issued a $2.00 target price on shares of Millendo Therapeutics in a research note on Thursday, May 21st. Roth Capital reduced their target price on Millendo Therapeutics from $35.00 to $6.00 in a research note on Tuesday, April 7th. Wedbush downgraded Millendo Therapeutics from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $25.00 to $4.00 in a research note on Monday, April 6th. Finally, Citigroup initiated coverage on Millendo Therapeutics in a research note on Friday. They issued a “buy” rating and a $6.00 target price for the company. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $10.75.

The firm has a market cap of $50.54 million, a P/E ratio of -0.76 and a beta of 1.51. The company has a current ratio of 5.76, a quick ratio of 5.76 and a debt-to-equity ratio of 0.04. The company’s 50-day moving average is $1.69 and its two-hundred day moving average is $5.86.

Millendo Therapeutics (NASDAQ:MLND) last announced its quarterly earnings results on Friday, May 8th. The company reported ($0.65) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.67) by $0.02. Research analysts anticipate that Millendo Therapeutics Inc will post -2.2 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC bought a new position in shares of Millendo Therapeutics during the 4th quarter worth approximately $40,000. Barclays PLC lifted its position in shares of Millendo Therapeutics by 102.9% during the 4th quarter. Barclays PLC now owns 9,390 shares of the company’s stock worth $63,000 after buying an additional 4,761 shares in the last quarter. Wedbush Securities Inc. bought a new position in shares of Millendo Therapeutics during the 1st quarter worth approximately $66,000. UBS Group AG lifted its position in shares of Millendo Therapeutics by 27.4% during the 4th quarter. UBS Group AG now owns 11,630 shares of the company’s stock worth $78,000 after buying an additional 2,500 shares in the last quarter. Finally, Trexquant Investment LP bought a new position in shares of Millendo Therapeutics during the 1st quarter worth approximately $120,000. 66.40% of the stock is currently owned by institutional investors and hedge funds.

About Millendo Therapeutics (NASDAQ:MLND)

Millendo Therapeutics, Inc, a late-stage biopharmaceutical company, engages in the development of various treatments for orphan endocrine diseases in the United States. The company's lead product candidates include livoletide, a potential treatment for Prader-Willi syndrome; and nevanimibe, a potential treatment for patients with classic congenital adrenal hyperplasia.

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