Molecular Partners AG (NASDAQ:MOLN – Get Rating) was the recipient of a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 26,900 shares, a decrease of 9.4% from the August 15th total of 29,700 shares. Based on an average daily volume of 13,200 shares, the days-to-cover ratio is presently 2.0 days.
Hedge Funds Weigh In On Molecular Partners
An institutional investor recently raised its position in Molecular Partners stock. Federated Hermes Inc. lifted its holdings in shares of Molecular Partners AG (NASDAQ:MOLN – Get Rating) by 94.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission. 2.70% of the stock is currently owned by institutional investors and hedge funds.
Molecular Partners Stock Performance
Shares of NASDAQ:MOLN opened at $6.39 on Monday. The business has a fifty day moving average of $6.35 and a two-hundred day moving average of $10.52. Molecular Partners has a 52-week low of $5.50 and a 52-week high of $32.04.
Analyst Ratings Changes
Several research firms recently commented on MOLN. Credit Suisse Group raised Molecular Partners from an “underperform” rating to a “neutral” rating in a research note on Wednesday, May 25th. Royal Bank of Canada downgraded Molecular Partners from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, August 30th. Finally, SVB Leerink cut Molecular Partners from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $30.00 to $8.00 in a report on Monday, August 29th.
Molecular Partners Company Profile
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.
- Get a free copy of the StockNews.com research report on Molecular Partners (MOLN)
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