Molecular Partners (NASDAQ:MOLN - Get Free Report) had its price target dropped by analysts at JPMorgan Chase & Co. from $4.50 to $4.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 6.41% from the company's previous close.
Molecular Partners Price Performance
Shares of NASDAQ MOLN traded down $0.04 during mid-day trading on Wednesday, reaching $3.76. 1,985 shares of the company's stock were exchanged, compared to its average volume of 6,477. The firm has a market capitalization of $151.79 million, a price-to-earnings ratio of -1.81 and a beta of 1.10. Molecular Partners has a 52 week low of $3.36 and a 52 week high of $7.60. The firm has a 50-day moving average price of $3.70 and a two-hundred day moving average price of $3.95.
Molecular Partners (NASDAQ:MOLN - Get Free Report) last released its earnings results on Monday, August 25th. The company reported ($0.67) EPS for the quarter, missing analysts' consensus estimates of ($0.53) by ($0.14). As a group, sell-side analysts forecast that Molecular Partners will post -1.93 EPS for the current fiscal year.
Institutional Investors Weigh In On Molecular Partners
A hedge fund recently raised its stake in Molecular Partners stock. Suvretta Capital Management LLC increased its position in Molecular Partners AG Sponsored ADR (NASDAQ:MOLN - Free Report) by 455.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,221,494 shares of the company's stock after acquiring an additional 1,821,494 shares during the quarter. Suvretta Capital Management LLC owned about 5.50% of Molecular Partners worth $10,548,000 as of its most recent SEC filing. Institutional investors and hedge funds own 26.55% of the company's stock.
About Molecular Partners
(
Get Free Report)
Molecular Partners AG, a clinical-stage biotechnology company, develops designed ankyrin repeat proteins therapeutics for the treatment of oncology and virology diseases in Switzerland. The company develops MP0317, a CD40 agonist designed to activate immune cells within the tumor microenvironment by anchoring to fibroblast activation protein that is in Phase I clinical trial; and MP0533, a novel tetra-specific T cell-engaging DARPin for acute myeloid leukemia.
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