Short Interest in Moleculin Biotech, Inc. (NASDAQ:MBRX) Decreases By 61.7%

Moleculin Biotech, Inc. (NASDAQ:MBRX) was the target of a large drop in short interest in November. As of November 30th, there was short interest totalling 20,700 shares, a drop of 61.7% from the November 15th total of 54,100 shares. Approximately 0.7% of the shares of the company are short sold. Based on an average trading volume of 41,300 shares, the short-interest ratio is presently 0.5 days.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MBRX shares. StockNews.com began coverage on Moleculin Biotech in a research report on Saturday, December 7th. They set a “sell” rating for the company. Maxim Group reduced their price objective on shares of Moleculin Biotech from $20.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th.

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% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 156,000 shares of the company’s stock after acquiring an additional 7,505 shares during the period. Armistice Capital LLC owned approximately 6.75% of Moleculin Biotech worth $549,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 15.52% of the company’s stock.

Moleculin Biotech Trading Down 5.7 %

Shares of Moleculin Biotech stock traded down $0.14 during trading on Friday, reaching $2.32. The company’s stock had a trading volume of 47,730 shares, compared to its average volume of 34,052. Moleculin Biotech has a one year low of $2.12 and a one year high of $15.75. The business’s fifty day moving average price is $2.56 and its 200-day moving average price is $2.98.

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.