Moleculin Biotech (NASDAQ:MBRX) Coverage Initiated at StockNews.com

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

Moleculin Biotech Trading Down 4.1 %

Shares of Moleculin Biotech stock opened at $2.36 on Friday. The firm has a fifty day moving average of $2.50 and a two-hundred day moving average of $3.81. Moleculin Biotech has a 52 week low of $2.12 and a 52 week high of $15.75.

Moleculin Biotech (NASDAQ:MBRX) last posted its earnings results on Tuesday, August 13th. The company reported ($2.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.10) by ($0.13). Sell-side analysts predict that Moleculin Biotech will post -8.6 earnings per share for the current year.

Institutional Trading of Moleculin Biotech

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC grew its holdings in Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 156,000 shares of the company’s stock after acquiring an additional 7,505 shares during the quarter. Armistice Capital LLC owned 6.75% of Moleculin Biotech worth $549,000 at the end of the most recent reporting period. 15.52% of the stock is currently owned by hedge funds and other institutional investors.

Moleculin Biotech Company Profile

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.