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

Equities researchers at StockNews.com assumed coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a research note issued to investors on Friday. The brokerage set a “sell” rating on the stock.

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

Moleculin Biotech Stock Performance

Shares of NASDAQ:MBRX opened at $1.76 on Friday. Moleculin Biotech has a 12-month low of $1.50 and a 12-month high of $10.35. The business has a 50 day moving average of $2.16 and a 200-day moving average of $2.53.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC boosted its position in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 156,000 shares of the company’s stock after buying 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 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.