Moleculin Biotech (NASDAQ:MBRX) Share Price Passes Below 50 Day Moving Average – What’s Next?

Moleculin Biotech, Inc. (NASDAQ:MBRX) crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $2.14 and traded as low as $0.41. Moleculin Biotech shares last traded at $0.4450, with a volume of 991,840 shares changing hands.

Wall Street Analyst Weigh In

MBRX has been the topic of a number of recent analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Moleculin Biotech in a report on Friday, July 17th. Wall Street Zen cut shares of Moleculin Biotech from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $22.00.

Moleculin Biotech Stock Up 9.4%

The firm has a market cap of $4.06 million, a P/E ratio of -0.03 and a beta of 1.83. The business has a fifty day moving average of $2.06 and a 200 day moving average of $2.51.

Moleculin Biotech (NASDAQ:MBRX) last released its quarterly earnings data on Thursday, August 13th. The company reported ($1.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.55) by $0.15. Research analysts expect that Moleculin Biotech, Inc. will post -3.08 EPS for the current year.

Institutional Investors Weigh In On Moleculin Biotech

A hedge fund recently bought a new position in Moleculin Biotech stock. Jane Street Group LLC acquired a new position in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 22,550 shares of the company’s stock, valued at approximately $75,000. Jane Street Group LLC owned 1.11% of Moleculin Biotech at the end of the most recent reporting period. 15.52% of the stock is owned by institutional investors.

About Moleculin Biotech

Moleculin Biotech, Inc is a clinical-stage pharmaceutical company focused on the development of novel therapies for the treatment of highly resistant tumors and viral infections. The company’s research platform centers on the design and synthesis of drug candidates that target key cellular pathways in cancer cells and viral replication processes. By leveraging a proprietary chemistry approach, Moleculin aims to address diseases that have limited therapeutic options and high unmet medical need.

The company’s pipeline includes multiple product candidates at various stages of development.