Molecular Partners AG Sponsored ADR (NASDAQ:MOLN) Sees Large Drop in Short Interest

Molecular Partners AG Sponsored ADR (NASDAQ:MOLN) was the recipient of a significant decline in short interest in the month of March. As of March 13th, there was short interest totaling 13,996 shares, a decline of 18.9% from the February 26th total of 17,248 shares. Based on an average daily volume of 3,198 shares, the days-to-cover ratio is presently 4.4 days. Currently, 0.0% of the company’s shares are sold short.

Molecular Partners Stock Performance

MOLN traded up $0.04 on Tuesday, reaching $3.97. 1,728 shares of the company’s stock were exchanged, compared to its average volume of 3,897. Molecular Partners has a twelve month low of $3.36 and a twelve month high of $5.36. The company’s 50 day moving average is $4.56 and its 200-day moving average is $4.23. The company has a market cap of $160.29 million, a price-to-earnings ratio of -1.99 and a beta of 1.03.

Molecular Partners (NASDAQ:MOLN) last announced its quarterly earnings results on Thursday, March 12th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.03). Sell-side analysts forecast that Molecular Partners will post -1.93 EPS for the current year.

Analyst Upgrades and Downgrades

MOLN has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Molecular Partners in a research note on Monday, December 22nd. TD Cowen reissued a “buy” rating on shares of Molecular Partners in a research note on Monday, March 16th. JPMorgan Chase & Co. dropped their price objective on Molecular Partners from $4.00 to $3.75 and set a “neutral” rating for the company in a report on Monday, December 8th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $13.00 target price on shares of Molecular Partners in a research report on Monday, March 16th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $8.38.

Institutional Trading of Molecular Partners

A hedge fund recently bought a new stake in Molecular Partners stock. SmartHarvest Portfolios LLC purchased a new position in Molecular Partners AG Sponsored ADR (NASDAQ:MOLN) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 12,311 shares of the company’s stock, valued at approximately $54,000. 26.55% of the stock is owned by hedge funds and other institutional investors.

About Molecular Partners

Molecular Partners AG is a clinical-stage biopharmaceutical company headquartered in Zurich, Switzerland, specializing in the design and development of DARPin® (Designed Ankyrin Repeat Protein) therapies. These small, modular proteins are engineered to bind with high specificity and affinity to disease-relevant targets. The company’s technology platform aims to deliver novel treatments across multiple therapeutic areas by leveraging the unique properties of DARPins, including stability, tissue penetration and multi-specific binding capabilities.

The company’s development pipeline spans infectious diseases, ophthalmology and oncology.