Molecular Partners (NASDAQ:MOLN) Price Target Cut to $4.00 by Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has lowered its price target for Molecular Partners (NASDAQ:MOLN) from $4.50 to $4.00, maintaining a "neutral" rating on the stock.
• The company recently reported an earnings miss with an EPS of ($0.67), which was below analysts' expectations of ($0.53).
• Suvretta Capital Management LLC significantly increased its stake in Molecular Partners by 455.4%, acquiring over 1.8 million additional shares during the fourth quarter.

Molecular Partners (NASDAQ:MOLN - Free Report) had its price target reduced by JPMorgan Chase & Co. from $4.50 to $4.00 in a report released on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Molecular Partners Trading Up 0.3%

Shares of MOLN traded up $0.01 during midday trading on Wednesday, reaching $3.59. The stock had a trading volume of 2,037 shares, compared to its average volume of 6,424. The firm has a 50 day simple moving average of $3.70 and a 200-day simple moving average of $3.91. Molecular Partners has a one year low of $3.36 and a one year high of $7.60. The firm has a market cap of $144.96 million, a PE ratio of -1.73 and a beta of 1.10.

Molecular Partners (NASDAQ:MOLN - Get Free Report) last announced its quarterly earnings data 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, research analysts forecast that Molecular Partners will post -1.93 EPS for the current fiscal year.

Institutional Trading of Molecular Partners

A hedge fund recently raised its stake in Molecular Partners stock. Suvretta Capital Management LLC increased its stake in shares of Molecular Partners AG Sponsored ADR (NASDAQ:MOLN - Free Report) by 455.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,221,494 shares of the company's stock after buying an additional 1,821,494 shares during the period. Suvretta Capital Management LLC owned 5.50% of Molecular Partners worth $10,548,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 26.55% of the company's stock.

About Molecular Partners

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.