Molecular Partners (NASDAQ:MOLN) Shares Down 0.7% - Here's Why

Key Points

• Molecular Partners AG (NASDAQ:MOLN) saw a stock price decrease of 0.7% to $3.54 with significantly increased trading volume, indicating heightened interest among investors.
• The company reported a quarterly earnings loss of ($0.50) EPS, missing analyst expectations of ($0.39) by ($0.11), reflecting ongoing financial challenges.
• An institutional investor, Suvretta Capital Management LLC, significantly increased its stake in Molecular Partners by 455.4%, acquiring over 2.2 million shares, suggesting confidence in the company's future prospects.

Shares of Molecular Partners AG Sponsored ADR (NASDAQ:MOLN - Get Free Report) fell 0.7% during trading on Thursday . The company traded as low as $3.46 and last traded at $3.54. 3,190 shares changed hands during mid-day trading, an increase of 245% from the average session volume of 924 shares. The stock had previously closed at $3.56.

Molecular Partners Price Performance

The stock has a market cap of $144.36 million, a P/E ratio of -1.86 and a beta of 1.10. The business's fifty day moving average price is $3.70 and its 200 day moving average price is $4.04.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Molecular Partners stock. Suvretta Capital Management LLC boosted its holdings in Molecular Partners AG Sponsored ADR (NASDAQ:MOLN - Free Report) by 455.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,221,494 shares of the company's stock after buying an additional 1,821,494 shares during the quarter. Suvretta Capital Management LLC owned approximately 5.50% of Molecular Partners worth $10,548,000 at the end of the most recent reporting period. 26.55% of the stock is owned by institutional investors and hedge funds.

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.