Molecular Partners (NASDAQ:MOLN) Trading 0.3% Higher – What’s Next?

Molecular Partners AG (NASDAQ:MOLN) shares traded up 0.3% during mid-day trading on Thursday . The stock traded as high as $4.85 and last traded at $4.88. 413 shares traded hands during trading, a decline of 90% from the average session volume of 4,344 shares. The stock had previously closed at $4.87.

Molecular Partners Stock Up 11.4 %

The firm has a market cap of $218.16 million, a price-to-earnings ratio of -2.51 and a beta of 1.06. The company’s 50-day moving average price is $5.16 and its 200-day moving average price is $5.44.

Hedge Funds Weigh In On Molecular Partners

An institutional investor recently raised its position in Molecular Partners stock. Suvretta Capital Management LLC lifted its holdings in shares of Molecular Partners AG (NASDAQ:MOLN) by 455.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,221,494 shares of the company’s stock after acquiring an additional 1,821,494 shares during the period. Suvretta Capital Management LLC owned 5.50% of Molecular Partners worth $10,548,000 at the end of the most recent reporting period. 26.55% of the stock is currently owned by hedge funds and other institutional investors.

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.