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

Molecular Partners AG Sponsored ADR (NASDAQ:MOLN) was the target of a significant drop in short interest in the month of October. As of October 30th, there was short interest totaling 1 shares, a drop of 99.8% from the October 15th total of 580 shares. Based on an average daily volume of 2,297 shares, the short-interest ratio is currently 0.0 days. Currently, 0.0% of the company’s shares are sold short.

Molecular Partners Stock Up 0.3%

NASDAQ:MOLN traded up $0.01 during trading hours on Tuesday, reaching $3.10. The company had a trading volume of 976 shares, compared to its average volume of 2,059. The firm has a market cap of $125.18 million, a price-to-earnings ratio of -1.85 and a beta of 1.17. The business’s 50-day simple moving average is $3.86 and its two-hundred day simple moving average is $4.15. Molecular Partners has a twelve month low of $3.09 and a twelve month high of $5.36.

Molecular Partners (NASDAQ:MOLN) last posted its quarterly earnings results on Thursday, October 29th. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.46) by $0.08. As a group, equities analysts predict that Molecular Partners will post -1.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MOLN. Weiss Ratings reiterated a “sell (d-)” rating on shares of Molecular Partners in a report on Friday, October 2nd. HC Wainwright restated a “buy” rating on shares of Molecular Partners in a report on Monday, November 2nd. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $8.38.

About Molecular Partners

Molecular Partners AG is a clinical-stage biotechnology company headquartered in Schlieren, Switzerland. The company develops therapeutic molecules based on its proprietary DARPin platform, which uses designed ankyrin repeat proteins to create targeted, multi-specific medicines intended to address complex disease pathways. Molecular Partners’ research and development activities have focused primarily on oncology, ophthalmology and infectious diseases. Its pipeline has included experimental programs designed to engage multiple biological targets, with the goal of improving treatment effectiveness and addressing limitations associated with conventional antibody-based therapies.