Moleculin Biotech (NASDAQ:MBRX) Share Price Passes Below Fifty Day Moving Average – Here’s Why

Moleculin Biotech, Inc. (NASDAQ:MBRX)’s stock price crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $2.46 and traded as low as $2.33. Moleculin Biotech shares last traded at $2.44, with a volume of 30,276 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on Moleculin Biotech in a report on Saturday. They issued a “sell” rating for the company.

Moleculin Biotech Trading Up 0.4 %

The stock has a fifty day moving average of $2.46 and a 200-day moving average of $3.74.

Moleculin Biotech (NASDAQ:MBRX) last posted its quarterly earnings results 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). On average, analysts anticipate that Moleculin Biotech, Inc. will post -8.6 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC increased its position in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and 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 approximately 6.75% of Moleculin Biotech worth $549,000 as of its most recent filing with the Securities and Exchange Commission. 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.