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

Research analysts at StockNews.com assumed coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a note issued to investors on Saturday. The firm set a “sell” rating on the stock.

Moleculin Biotech Trading Up 9.4 %

NASDAQ MBRX opened at $2.44 on Friday. The business’s fifty day moving average is $3.45 and its 200-day moving average is $5.24. Moleculin Biotech has a one year low of $2.12 and a one year high of $15.75.

Institutional Inflows and Outflows

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 the company in its most recent 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 approximately 9.60% of Moleculin Biotech at the end of the most recent reporting period. Institutional investors and hedge funds 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.