Short Interest in Moleculin Biotech, Inc. (NASDAQ:MBRX) Increases By 108.6%

Moleculin Biotech, Inc. (NASDAQ:MBRX) saw a significant increase in short interest in August. As of August 31st, there was short interest totalling 107,000 shares, an increase of 108.6% from the August 15th total of 51,300 shares. Based on an average daily volume of 32,000 shares, the days-to-cover ratio is currently 3.3 days. Currently, 3.9% of the company’s stock are short sold.

Moleculin Biotech Price Performance

MBRX remained flat at $2.43 during trading on Friday. The company’s stock had a trading volume of 15,437 shares, compared to its average volume of 29,181. Moleculin Biotech has a 52 week low of $2.12 and a 52 week high of $15.75. The company’s fifty day simple moving average is $2.90 and its two-hundred day simple moving average is $4.51.

Moleculin Biotech (NASDAQ:MBRX) last announced its earnings results on Tuesday, August 13th. The company reported ($2.23) EPS for the quarter, missing analysts’ consensus estimates of ($2.10) by ($0.13). Equities analysts expect that Moleculin Biotech will post -8.6 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of Moleculin Biotech in a research report on Tuesday, September 10th. They issued a “sell” rating for the company.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Moleculin Biotech stock. Armistice Capital LLC lifted its stake in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,000 shares of the company’s stock after purchasing 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 quarter. 15.52% of the stock is 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.