StockNews.com Begins Coverage on Moleculin Biotech (NASDAQ:MBRX)

StockNews.com began coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a research report report published on Sunday. The brokerage issued a sell rating on the stock.

Several other research firms have also recently commented on MBRX. Roth Mkm restated a buy rating and set a $40.00 price target on shares of Moleculin Biotech in a report on Friday, April 12th. Maxim Group lowered their target price on Moleculin Biotech from $45.00 to $20.00 and set a buy rating on the stock in a research note on Tuesday, March 26th.

Moleculin Biotech Price Performance

Shares of Moleculin Biotech stock opened at $3.57 on Friday. Moleculin Biotech has a 1 year low of $3.35 and a 1 year high of $15.75. The stock has a 50-day moving average price of $4.49 and a 200 day moving average price of $6.83.

Moleculin Biotech (NASDAQ:MBRX) last posted its quarterly earnings results on Friday, May 10th. The company reported ($2.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.59) by $1.57. On average, equities analysts forecast that Moleculin Biotech will post -8.79 earnings per share for the current fiscal year.

Institutional Trading of Moleculin Biotech

A hedge fund recently bought a new stake in Moleculin Biotech stock. Armistice Capital LLC bought a new position in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,207,417 shares of the company’s stock, valued at approximately $2,753,000. Armistice Capital LLC owned about 9.60% of Moleculin Biotech at the end of the most recent reporting period. Hedge funds and other institutional investors own 15.52% of the company’s stock.

About Moleculin Biotech

Moleculin Biotech, Inc, a clinical stage pharmaceutical company, focuses on the development of drug candidates for the treatment of cancers and viruses. Its lead drug candidate is Annamycin, which is in Phase 1B/2 clinical trials for the treatment of relapsed or refractory acute myeloid leukemia (AML) and soft tissue sarcoma metastasized to the lungs.