Moleculin Biotech (NASDAQ:MBRX) Now Covered by StockNews.com

Analysts at StockNews.com started coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a research note issued on Wednesday. The firm set a “sell” rating on the stock.

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

Moleculin Biotech Trading Up 5.0 %

Shares of MBRX opened at $2.64 on Wednesday. Moleculin Biotech has a 52 week low of $2.12 and a 52 week high of $15.75. The stock has a fifty day moving average of $2.50 and a 200-day moving average of $3.34.

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

Institutional Trading of Moleculin Biotech

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC grew its position in Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 156,000 shares of the company’s stock after purchasing 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 filing with the SEC. 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.