Molecular Partners (NASDAQ:MOLN) Shares Up 2.2% – Time to Buy?

Molecular Partners AG (NASDAQ:MOLN) rose 2.2% on Monday . The company traded as high as $3.89 and last traded at $3.89. Approximately 657 shares traded hands during trading, a decline of 97% from the average daily volume of 20,207 shares. The stock had previously closed at $3.80.

Wall Street Analysts Forecast Growth

Separately, Lifesci Capital assumed coverage on Molecular Partners in a report on Tuesday, March 11th. They issued an “outperform” rating and a $12.00 price objective for the company.

Molecular Partners Stock Up 2.2%

The company’s 50-day moving average is $3.89 and its 200 day moving average is $4.63. The company has a market cap of $156.86 million, a price-to-earnings ratio of -1.81 and a beta of 1.11.

Molecular Partners (NASDAQ:MOLN) last posted its earnings results on Thursday, May 15th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.11). Molecular Partners had a negative return on equity of 39.31% and a negative net margin of 1,043.01%. Analysts predict that Molecular Partners AG will post -1.93 EPS for the current fiscal year.

Hedge Funds Weigh In On Molecular Partners

A hedge fund recently raised its stake in Molecular Partners stock. Suvretta Capital Management LLC lifted its holdings in shares of Molecular Partners AG (NASDAQ:MOLN) by 455.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing. 26.55% of the stock is owned by hedge funds and other institutional investors.

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.