Molecular Partners (NASDAQ:MOLN) Trading 0.3% Higher – Should You Buy?

Molecular Partners AG (NASDAQ:MOLN)’s stock price traded up 0.3% on Thursday . The company traded as high as $4.85 and last traded at $4.88. 413 shares traded hands during mid-day 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 Performance

The business’s 50-day moving average is $5.16 and its two-hundred day moving average is $5.44. The stock has a market capitalization of $218.16 million, a PE ratio of -2.51 and a beta of 1.06.

Institutional Investors Weigh In On Molecular Partners

A hedge fund recently raised its stake in Molecular Partners stock. Suvretta Capital Management LLC lifted its position in shares of Molecular Partners AG (NASDAQ:MOLN) by 455.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,221,494 shares of the company’s stock after buying an additional 1,821,494 shares during the quarter. Suvretta Capital Management LLC owned approximately 5.50% of Molecular Partners worth $10,548,000 at the end of the most recent quarter. 26.55% of the stock is owned by institutional investors and hedge funds.

About Molecular Partners

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.