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

Molecular Partners AG Sponsored ADR (NASDAQ:MOLN) saw a large drop in short interest in the month of July. As of July 31st, there was short interest totaling 1,385 shares, a drop of 49.3% from the July 15th total of 2,733 shares. Based on an average daily trading volume, of 790 shares, the short-interest ratio is presently 1.8 days. Approximately 0.0% of the company’s stock are sold short.

Institutional Investors Weigh In On Molecular Partners

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

Molecular Partners Stock Performance

Molecular Partners stock traded down $0.10 during midday trading on Friday, hitting $4.11. 1,036 shares of the company’s stock were exchanged, compared to its average volume of 897. The stock has a market cap of $165.74 million, a price-to-earnings ratio of -2.12 and a beta of 1.08. Molecular Partners has a 12-month low of $3.47 and a 12-month high of $5.36. The firm’s 50 day simple moving average is $3.99 and its 200 day simple moving average is $4.23.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MOLN shares. HC Wainwright reaffirmed a “buy” rating on shares of Molecular Partners in a report on Monday, July 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Molecular Partners in a report on Wednesday, July 8th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $8.38.

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.