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

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

Moleculin Biotech Trading Down 0.4 %

NASDAQ:MBRX opened at $2.46 on Wednesday. The stock has a 50 day moving average of $2.82 and a two-hundred day moving average of $4.36. Moleculin Biotech has a 12 month low of $2.12 and a 12 month high of $15.75.

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

Institutional Trading of Moleculin Biotech

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 2nd quarter, according to the company in its most recent Form 13F filing with the 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 reporting period. 15.52% of the stock is owned by institutional investors and hedge funds.

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.