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

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

Separately, Maxim Group decreased their price objective on Moleculin Biotech from $20.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday.

Moleculin Biotech Price Performance

Shares of MBRX stock opened at $2.51 on Wednesday. The company’s 50-day moving average is $2.50 and its 200 day moving average is $3.33. Moleculin Biotech has a one year low of $2.12 and a one year high of $15.75.

Moleculin Biotech (NASDAQ:MBRX) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($2.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.10) by ($0.13). Analysts predict that Moleculin Biotech will post -8.6 earnings per share for the current year.

Hedge Funds Weigh In On Moleculin Biotech

A hedge fund recently raised its stake in Moleculin Biotech stock. Armistice Capital LLC boosted its position in Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 156,000 shares of the company’s stock after purchasing an additional 7,505 shares during the period. Armistice Capital LLC owned approximately 6.75% of Moleculin Biotech worth $549,000 as of its most recent SEC filing. 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.