Molecular Partners AG (NASDAQ:MOLN – Get Rating) was the target of a large decrease in short interest in the month of September. As of September 15th, there was short interest totalling 19,800 shares, a decrease of 26.4% from the August 31st total of 26,900 shares. Based on an average trading volume of 10,400 shares, the short-interest ratio is currently 1.9 days.
Molecular Partners Trading Up 7.7 %
MOLN traded up $0.48 during trading on Friday, hitting $6.69. 4,238 shares of the stock traded hands, compared to its average volume of 7,740. The firm has a 50-day moving average of $6.31 and a 200 day moving average of $9.43. Molecular Partners has a 12-month low of $5.50 and a 12-month high of $32.04.
Get Molecular Partners alerts:Molecular Partners (NASDAQ:MOLN – Get Rating) last announced its quarterly earnings results on Thursday, August 25th. The company reported ($0.15) earnings per share for the quarter. The business had revenue of $12.19 million for the quarter. On average, research analysts anticipate that Molecular Partners will post 3.79 EPS for the current year.
Analysts Set New Price Targets
A number of brokerages have recently commented on MOLN. Royal Bank of Canada lowered shares of Molecular Partners from an "outperform" rating to a "sector perform" rating in a report on Tuesday, August 30th. SVB Leerink lowered shares of Molecular Partners from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $30.00 to $8.00 in a report on Monday, August 29th.Institutional Inflows and Outflows
A hedge fund recently raised its stake in Molecular Partners stock. Federated Hermes Inc. grew its stake in Molecular Partners AG (NASDAQ:MOLN – Get Rating) by 94.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. 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 about 1.41% of Molecular Partners worth $9,264,000 at the end of the most recent quarter. Institutional investors and hedge funds own 2.70% of the company's stock.
About Molecular Partners
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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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