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

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

Moleculin Biotech Stock Performance

NASDAQ MBRX opened at $2.47 on Wednesday. Moleculin Biotech has a 52 week low of $2.12 and a 52 week high of $15.75. The company has a 50-day moving average price of $2.85 and a two-hundred day moving average price of $4.37.

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC increased its stake in 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 institutional investor 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. Institutional investors and hedge funds 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.