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

StockNews.com assumed coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a research note released on Tuesday. The firm issued a sell rating on the stock.

A number of other analysts also recently weighed in on the company. Maxim Group decreased their price objective on Moleculin Biotech from $45.00 to $20.00 and set a buy rating for the company in a report on Tuesday, March 26th. Roth Mkm reiterated a buy rating and set a $40.00 price target on shares of Moleculin Biotech in a report on Friday, April 12th.

Moleculin Biotech Stock Performance

NASDAQ MBRX opened at $4.43 on Tuesday. The business has a fifty day moving average price of $4.24 and a two-hundred day moving average price of $6.27. Moleculin Biotech has a fifty-two week low of $3.21 and a fifty-two week high of $15.75.

Moleculin Biotech (NASDAQ:MBRX) last released its earnings results on Friday, May 10th. The company reported ($2.02) earnings per share for the quarter, topping the consensus estimate of ($3.59) by $1.57. As a group, research analysts predict that Moleculin Biotech will post -8.79 EPS for the current fiscal year.

Institutional Investors Weigh In On Moleculin Biotech

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