Molecular Partners (NASDAQ:MOLN) Price Target Lowered to $29.00 at SVB Leerink

Molecular Partners (NASDAQ:MOLNGet Rating) had its target price decreased by SVB Leerink from $42.00 to $29.00 in a research report sent to investors on Thursday morning, The Fly reports.

MOLN has been the topic of a number of other research reports. Zacks Investment Research lowered shares of Molecular Partners from a buy rating to a hold rating in a report on Thursday, January 20th. JPMorgan Chase & Co. dropped their price target on Molecular Partners from CHF 22 to CHF 21 in a research report on Friday, March 18th. Credit Suisse Group cut Molecular Partners from a neutral rating to an underperform rating in a research note on Wednesday. Finally, Kempen & Co lowered Molecular Partners from a buy rating to a neutral rating in a report on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $22.92.

NASDAQ MOLN traded down $0.21 during mid-day trading on Thursday, reaching $8.19. 100 shares of the stock were exchanged, compared to its average volume of 39,630. Molecular Partners has a one year low of $7.87 and a one year high of $32.04. The stock has a 50 day simple moving average of $20.62 and a 200-day simple moving average of $20.21.

Large investors have recently made changes to their positions in the stock. BVF Inc. IL acquired a new stake in shares of Molecular Partners during the 3rd quarter valued at approximately $8,267,000. Sphera Funds Management LTD. purchased a new position in Molecular Partners in the 3rd quarter valued at about $1,580,000. Finally, Morgan Stanley bought a new position in shares of Molecular Partners during the second quarter worth about $25,000. Hedge funds and other institutional investors own 18.35% of the company’s stock.

About Molecular Partners (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.

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