StockNews.com Begins Coverage on Moleculin Biotech (NASDAQ:MBRX)

Research analysts at StockNews.com assumed coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a report issued on Thursday. The brokerage set a “sell” rating on the stock.

Separately, Maxim Group lowered their price objective on Moleculin Biotech from $20.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th.

Moleculin Biotech Price Performance

MBRX opened at $1.81 on Thursday. The company’s 50 day simple moving average is $2.23 and its 200-day simple moving average is $2.59. Moleculin Biotech has a one year low of $1.50 and a one year high of $11.10.

Hedge Funds Weigh In On Moleculin Biotech

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC lifted its position in Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 156,000 shares of the company’s stock after acquiring an additional 7,505 shares during the period. Armistice Capital LLC owned approximately 6.75% of Moleculin Biotech worth $549,000 at the end of the most recent quarter. Institutional investors own 15.52% of the company’s stock.

Moleculin Biotech Company Profile

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.