Molecular Partners (NASDAQ:MOLN) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Molecular Partners (NASDAQ:MOLNGet Rating) from a sell rating to a hold rating in a research report sent to investors on Saturday morning, Zacks.com reports.

According to Zacks, “Molecular Partners AG is a clinical-stage biotech company. It involved in developing a new class of custom-built protein drugs known as DARPin(R) therapeutics. Molecular Partners AG is based in SWITZERLAND. “

MOLN has been the subject of a number of other reports. SVB Leerink decreased their price target on shares of Molecular Partners from $42.00 to $29.00 in a report on Thursday, April 28th. Kempen & Co cut shares of Molecular Partners from a buy rating to a neutral rating in a report on Wednesday, April 27th. JPMorgan Chase & Co. decreased their price target on shares of Molecular Partners from CHF 22 to CHF 21 in a report on Friday, March 18th. Finally, Credit Suisse Group cut shares of Molecular Partners from a neutral rating to an underperform rating in a research note on Wednesday, April 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $22.92.

Molecular Partners stock opened at $6.88 on Friday. Molecular Partners has a one year low of $5.92 and a one year high of $32.04. The company’s fifty day moving average price is $14.94 and its two-hundred day moving average price is $18.74.

Large investors have recently bought and sold shares of the stock. BVF Inc. IL acquired a new position in Molecular Partners in the third quarter worth about $8,267,000. Federated Hermes Inc. increased its holdings in shares of Molecular Partners by 94.2% during the first quarter. Federated Hermes Inc. now owns 457,037 shares of the company’s stock worth $9,264,000 after buying an additional 221,743 shares in the last quarter. Morgan Stanley acquired a new stake in shares of Molecular Partners during the second quarter worth approximately $25,000. Finally, Sphera Funds Management LTD. acquired a new stake in shares of Molecular Partners during the third quarter worth approximately $1,580,000. 17.60% of the stock is owned by hedge funds and other institutional investors.

Molecular Partners Company Profile (Get Rating)

Molecular Partners AG operates as a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutic proteins. Its products candidates include Abicipar, a DARPin therapeutic candidate, which is in Phase III clinical trials for the treatment of neovascular wet age-related macular degeneration, as well as for diabetic macular edema; and MP0420, a multi-specific DARPin therapeutic candidate for the SARS-CoV-2 virus.

Further Reading

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Analyst Recommendations for Molecular Partners (NASDAQ:MOLN)

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