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

Stock analysts at StockNews.com initiated coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a research report issued on Thursday. The firm 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 on the stock in a research note on Tuesday, November 12th.

Moleculin Biotech Stock Up 2.1 %

NASDAQ:MBRX opened at $2.67 on Thursday. The company has a 50-day moving average of $2.53 and a 200-day moving average of $3.25. Moleculin Biotech has a 52 week low of $2.12 and a 52 week high of $15.75.

Institutional Investors Weigh In On Moleculin Biotech

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC grew its holdings in Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 156,000 shares of the company’s stock after buying an additional 7,505 shares during the quarter. Armistice Capital LLC owned approximately 6.75% of Moleculin Biotech worth $549,000 at the end of the most recent reporting period. 15.52% of the stock is owned by institutional investors and hedge funds.

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.