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

StockNews.com started coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a research note issued to investors on Wednesday morning. The firm issued a sell rating on the stock.

Separately, Maxim Group dropped 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.

Moleculin Biotech Stock Performance

NASDAQ:MBRX opened at $2.51 on Wednesday. The firm’s 50-day moving average is $2.50 and its 200-day moving average is $3.33. Moleculin Biotech has a 52-week low of $2.12 and a 52-week high of $15.75.

Moleculin Biotech (NASDAQ:MBRX) last posted its earnings results on Tuesday, August 13th. The company reported ($2.23) earnings per share for the quarter, missing the consensus estimate of ($2.10) by ($0.13). Sell-side analysts forecast that Moleculin Biotech will post -8.6 earnings per share for the current year.

Institutional Trading of Moleculin Biotech

A hedge fund recently raised its stake in Moleculin Biotech stock. Armistice Capital LLC raised its stake in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. 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 about 6.75% of Moleculin Biotech worth $549,000 at the end of the most recent reporting period. Institutional investors own 15.52% of the company’s stock.

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.