Short Interest in Moleculin Biotech, Inc. (NASDAQ:MBRX) Declines By 57.1%

Moleculin Biotech, Inc. (NASDAQ:MBRX) was the target of a significant drop in short interest in March. As of March 15th, there was short interest totalling 463,600 shares, a drop of 57.1% from the February 28th total of 1,080,000 shares. Based on an average daily trading volume, of 5,330,000 shares, the days-to-cover ratio is presently 0.1 days. Currently, 3.3% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on MBRX shares. StockNews.com raised Moleculin Biotech to a “sell” rating in a research report on Wednesday. Maxim Group upgraded shares of Moleculin Biotech from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a research note on Tuesday, March 25th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $8.00 price target on shares of Moleculin Biotech in a report on Monday, March 24th.

Moleculin Biotech Stock Performance

MBRX stock opened at $1.04 on Friday. The stock’s 50 day moving average is $1.29 and its two-hundred day moving average is $1.97. Moleculin Biotech has a 52-week low of $0.40 and a 52-week high of $6.09.

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.