Great Point Partners LLC Has $7.40 Million Stock Position in Menlo Therapeutics Inc (NASDAQ:MNLO)

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Great Point Partners LLC lowered its stake in shares of Menlo Therapeutics Inc (NASDAQ:MNLO) by 4.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,652,013 shares of the company’s stock after selling 81,869 shares during the quarter. Menlo Therapeutics makes up approximately 0.7% of Great Point Partners LLC’s holdings, making the stock its 28th largest position. Great Point Partners LLC owned approximately 6.89% of Menlo Therapeutics worth $7,401,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of MNLO. Wells Fargo & Company MN boosted its holdings in shares of Menlo Therapeutics by 28.2% during the second quarter. Wells Fargo & Company MN now owns 30,136 shares of the company’s stock valued at $180,000 after acquiring an additional 6,622 shares during the period. Russell Investments Group Ltd. grew its position in Menlo Therapeutics by 13.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 47,821 shares of the company’s stock worth $286,000 after purchasing an additional 5,762 shares during the last quarter. Bank of New York Mellon Corp grew its position in Menlo Therapeutics by 32.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 51,798 shares of the company’s stock worth $311,000 after purchasing an additional 12,562 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Menlo Therapeutics by 30.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 53,425 shares of the company’s stock valued at $321,000 after purchasing an additional 12,498 shares during the period. Finally, Parametric Portfolio Associates LLC increased its stake in shares of Menlo Therapeutics by 73.7% in the second quarter. Parametric Portfolio Associates LLC now owns 66,972 shares of the company’s stock valued at $401,000 after purchasing an additional 28,418 shares during the period. Hedge funds and other institutional investors own 58.67% of the company’s stock.

Several research analysts have recently issued reports on MNLO shares. Zacks Investment Research raised Menlo Therapeutics from a “hold” rating to a “buy” rating and set a $4.75 price target for the company in a research note on Wednesday. HC Wainwright started coverage on shares of Menlo Therapeutics in a report on Friday, October 18th. They issued a “buy” rating and a $11.00 price objective for the company.

NASDAQ:MNLO traded down $0.38 during midday trading on Wednesday, hitting $3.98. 165,200 shares of the stock were exchanged, compared to its average volume of 66,350. The company has a market capitalization of $94.98 million, a price-to-earnings ratio of -1.68 and a beta of 2.02. The business has a 50-day moving average price of $4.62 and a two-hundred day moving average price of $4.98. Menlo Therapeutics Inc has a one year low of $2.69 and a one year high of $9.03.

Menlo Therapeutics (NASDAQ:MNLO) last released its earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.07. As a group, analysts forecast that Menlo Therapeutics Inc will post -3.08 earnings per share for the current fiscal year.

About Menlo Therapeutics

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.

Further Reading: Cash Asset Ratio

Institutional Ownership by Quarter for Menlo Therapeutics (NASDAQ:MNLO)

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