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

StockNews.com initiated coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a report issued on Friday. The firm set a “sell” rating on the stock.

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

Moleculin Biotech Trading Up 2.7 %

MBRX opened at $2.69 on Friday. The stock has a 50-day moving average price of $2.56 and a 200-day moving average price of $3.16. Moleculin Biotech has a 12-month low of $2.12 and a 12-month high of $15.75.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC increased its stake in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,000 shares of the company’s stock after acquiring 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 Securities and Exchange Commission (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.