Moleculin Biotech (NASDAQ:MBRX) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com assumed coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a research report issued to clients and investors on Monday. The brokerage set a “sell” rating on the stock.

Separately, Maxim Group decreased their price target on Moleculin Biotech from $20.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th.

Moleculin Biotech Trading Up 5.2 %

Shares of MBRX opened at $1.82 on Monday. The business’s fifty day moving average price is $2.48 and its two-hundred day moving average price is $2.84. Moleculin Biotech has a 52 week low of $1.50 and a 52 week high of $15.75.

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% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 156,000 shares of the company’s stock after purchasing an additional 7,505 shares during the period. Armistice Capital LLC owned 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 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.