Molecular Partners AG (NASDAQ:MOLN – Get Rating) was the recipient of a large decline in short interest in 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 volume of 13,200 shares, the short-interest ratio is currently 2.0 days.
Molecular Partners Stock Performance
MOLN opened at $6.21 on Wednesday. Molecular Partners has a one year low of $5.50 and a one year high of $32.04. The company has a fifty day moving average price of $6.33 and a 200-day moving average price of $10.36.
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Molecular Partners (NASDAQ:MOLN – Get Rating) last announced its earnings results on Thursday, August 25th. The company reported ($0.15) earnings per share (EPS) for the quarter. The business had revenue of $12.19 million for the quarter. On average, equities research analysts anticipate that Molecular Partners will post 3.79 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on the stock. Royal Bank of Canada cut shares of Molecular Partners from an "outperform" rating to a "sector perform" rating in a report on Tuesday, August 30th. SVB Leerink downgraded Molecular Partners from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $30.00 to $8.00 in a research report on Monday, August 29th. Finally, Credit Suisse Group raised Molecular Partners from an "underperform" rating to a "neutral" rating in a research report on Wednesday, May 25th.
Institutional Investors Weigh In On Molecular Partners
An institutional investor recently raised its position in Molecular Partners stock. Federated Hermes Inc. boosted its stake in Molecular Partners AG (NASDAQ:MOLN – Get Rating) by 94.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 457,037 shares of the company's stock after purchasing an additional 221,743 shares during the period. Federated Hermes Inc. owned about 1.41% of Molecular Partners worth $9,264,000 at the end of the most recent reporting period. 2.70% of the stock is currently owned by institutional investors and hedge funds.
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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