Molecular Partners (NASDAQ:MOLN) Shares Up 2.7% – Here’s What Happened

Molecular Partners AG Sponsored ADR (NASDAQ:MOLN) shares shot up 2.7% during mid-day trading on Thursday . The stock traded as high as $4.28 and last traded at $4.24. 1,246 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 10,531 shares. The stock had previously closed at $4.13.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. JPMorgan Chase & Co. reduced their price target on shares of Molecular Partners from $4.50 to $4.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 3rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Molecular Partners in a research note on Wednesday, November 5th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $8.00.

Molecular Partners Price Performance

The firm’s 50 day moving average is $3.80 and its 200 day moving average is $3.79. The company has a market capitalization of $171.21 million, a PE ratio of -2.21 and a beta of 1.09.

Molecular Partners (NASDAQ:MOLN) last announced its quarterly earnings results on Thursday, October 30th. The company reported ($0.41) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.05. As a group, analysts predict that Molecular Partners AG Sponsored ADR will post -1.93 EPS for the current fiscal year.

Molecular Partners Company Profile

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.