Molecular Partners (NASDAQ:MOLN) Announces Earnings Results

Molecular Partners (NASDAQ:MOLN) announced its quarterly earnings results on Monday. The company reported ($0.43) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.02, FiscalAI reports.

Molecular Partners Stock Down 2.6%

NASDAQ:MOLN traded down $0.12 during trading hours on Tuesday, reaching $4.29. 2,007 shares of the company’s stock were exchanged, compared to its average volume of 4,843. The company has a market capitalization of $173.01 million, a P/E ratio of -2.21 and a beta of 1.08. Molecular Partners has a 12 month low of $3.53 and a 12 month high of $5.36. The business’s 50-day simple moving average is $4.03 and its two-hundred day simple moving average is $4.23.

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 report on Wednesday, July 8th. HC Wainwright reissued a “buy” rating on shares of Molecular Partners in a report on Monday, July 6th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $8.38.

Hedge Funds Weigh In On Molecular Partners

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

Molecular Partners Company Profile

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.