Moleculin Biotech (NASDAQ:MBRX) Earns Sell Rating from Analysts at StockNews.com

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

Separately, Maxim Group cut their price objective on shares of Moleculin Biotech from $20.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th.

Moleculin Biotech Price Performance

NASDAQ MBRX opened at $1.82 on Monday. The company’s fifty day simple moving average is $2.47 and its 200-day simple moving average is $2.82. Moleculin Biotech has a 52 week low of $1.50 and a 52 week high of $15.75.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC raised its stake in Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 156,000 shares of the company’s stock after buying an additional 7,505 shares during the quarter. Armistice Capital LLC owned approximately 6.75% of Moleculin Biotech worth $549,000 as of its most recent SEC filing. 15.52% of the stock is owned by hedge funds and other institutional investors.

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.