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

Equities research analysts at StockNews.com began coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a research note issued to investors on Monday. The firm set a “sell” rating on the stock.

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

Moleculin Biotech Trading Down 7.7 %

MBRX opened at $1.67 on Monday. The company has a 50 day moving average of $2.50 and a two-hundred day moving average of $2.86. Moleculin Biotech has a 52-week low of $1.67 and a 52-week high of $15.75.

Institutional Trading of Moleculin Biotech

A hedge fund recently raised its stake in Moleculin Biotech stock. Armistice Capital LLC grew its position in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 156,000 shares of the company’s stock after buying an additional 7,505 shares during the period. Armistice Capital LLC owned about 6.75% of Moleculin Biotech worth $549,000 as of its most recent SEC filing. 15.52% of the stock is currently owned by institutional investors.

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.