Molecular Partners AG (NASDAQ:MOLN – Get Rating) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 26,900 shares, a decline of 9.4% from the August 15th total of 29,700 shares. Based on an average daily trading volume, of 13,200 shares, the days-to-cover ratio is presently 2.0 days.
Institutional Trading of Molecular Partners
An institutional investor recently raised its position in Molecular Partners stock. Federated Hermes Inc. boosted its position in Molecular Partners AG (NASDAQ:MOLN – Get Rating) by 94.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 457,037 shares of the company's stock after purchasing an additional 221,743 shares during the quarter. Federated Hermes Inc. owned approximately 1.41% of Molecular Partners worth $9,264,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 2.70% of the company's stock.
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Molecular Partners Stock Performance
MOLN stock opened at $6.39 on Monday. The business has a 50-day moving average price of $6.35 and a 200 day moving average price of $10.52. Molecular Partners has a 1-year low of $5.50 and a 1-year high of $32.04.
Molecular Partners (NASDAQ:MOLN – Get Rating) last released its quarterly earnings data on Thursday, August 25th. The company reported ($0.15) earnings per share for the quarter. The company had revenue of $12.19 million during the quarter. On average, equities analysts anticipate that Molecular Partners will post 3.79 EPS for the current year.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on MOLN. Royal Bank of Canada downgraded Molecular Partners from an "outperform" rating to a "sector perform" rating in a research report on Tuesday, August 30th. Credit Suisse Group upgraded Molecular Partners from an "underperform" rating to a "neutral" rating in a research report on Wednesday, May 25th. Finally, SVB Leerink downgraded Molecular Partners from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $30.00 to $8.00 in a research report on Monday, August 29th.
Molecular Partners Company Profile
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Molecular Partners AG operates as a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutic proteins. Its products candidates include Abicipar, a DARPin therapeutic candidate, which is in Phase III clinical trials for the treatment of neovascular wet age-related macular degeneration, as well as for diabetic macular edema; and MP0420, a multi-specific DARPin therapeutic candidate for the SARS-CoV-2 virus.
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