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

StockNews.com initiated coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a research note released on Thursday. The brokerage issued a sell rating on the stock.

A number of other brokerages have also commented on MBRX. Roth Mkm reiterated a buy rating and issued a $40.00 price target on shares of Moleculin Biotech in a research note on Friday, April 12th. Maxim Group cut their target price on shares of Moleculin Biotech from $45.00 to $20.00 and set a buy rating for the company in a research report on Tuesday, March 26th.

Moleculin Biotech Stock Down 4.8 %

Shares of Moleculin Biotech stock opened at $4.14 on Thursday. Moleculin Biotech has a 52-week low of $3.84 and a 52-week high of $15.75. The company has a 50-day simple moving average of $4.72 and a two-hundred day simple moving average of $7.24.

Moleculin Biotech (NASDAQ:MBRX) last issued its earnings results on Friday, May 10th. The company reported ($2.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.59) by $1.57. As a group, analysts anticipate that Moleculin Biotech will post -8.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Moleculin Biotech

A hedge fund recently bought a new stake in Moleculin Biotech stock. Armistice Capital LLC bought a new position in Moleculin Biotech, Inc. (NASDAQ:MBRX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,207,417 shares of the company’s stock, valued at approximately $2,753,000. Armistice Capital LLC owned approximately 9.60% of Moleculin Biotech as of its most recent filing with the Securities & Exchange Commission. 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.