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

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

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

Moleculin Biotech Trading Up 8.5 %

NASDAQ:MBRX opened at $1.79 on Tuesday. The stock has a fifty day simple moving average of $2.41 and a 200 day simple moving average of $2.75. Moleculin Biotech has a 1-year low of $1.50 and a 1-year high of $15.75.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC lifted its stake in Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 156,000 shares of the company’s stock after purchasing an additional 7,505 shares during the quarter. Armistice Capital LLC owned 6.75% of Moleculin Biotech worth $549,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors 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.