Molecular Partners (NASDAQ:MOLN) Shares Down 7.1%

Molecular Partners AG (NASDAQ:MOLNGet Free Report)’s share price was down 7.1% during trading on Tuesday . The stock traded as low as $3.90 and last traded at $3.90. Approximately 1,067 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 15,105 shares. The stock had previously closed at $4.20.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. dropped their price objective on Molecular Partners from $6.60 to $4.50 and set a “neutral” rating on the stock in a report on Tuesday, December 5th.

Get Our Latest Stock Report on Molecular Partners

Molecular Partners Stock Down 7.1 %

The firm has a 50-day simple moving average of $4.34 and a 200 day simple moving average of $4.30. The company has a market cap of $141.77 million, a price-to-earnings ratio of -1.84 and a beta of 0.77.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Molecular Partners stock. Federated Hermes Inc. raised its stake in Molecular Partners AG (NASDAQ:MOLNFree Report) by 94.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 457,037 shares of the company’s stock after purchasing an additional 221,743 shares during the quarter. Federated Hermes Inc. owned 1.41% of Molecular Partners worth $9,264,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 26.55% of the company’s stock.

Molecular Partners Company Profile

(Get Free Report)

Molecular Partners AG operates as a clinical-stage biopharmaceutical company, develops designed ankyrin repeat proteins therapeutics for the treatment of oncology and virology diseases in Switzerland. The company develops MP0317 which is in Phase I clinical trials, a CD40 agonist designed to activate immune cells within the tumor microenvironment by anchoring to fibroblast activation protein; and MP0533, a novel tetra-specific T cell-engaging DARPin for acute myeloid leukemia.

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