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

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

Moleculin Biotech Price Performance

MBRX stock opened at $2.59 on Friday. The firm has a 50 day simple moving average of $2.48 and a two-hundred day simple moving average of $3.60. Moleculin Biotech has a one year low of $2.12 and a one year high of $15.75.

Moleculin Biotech (NASDAQ:MBRX) last announced its earnings results 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). As a group, sell-side analysts expect that Moleculin Biotech will post -8.6 EPS for the current fiscal year.

Institutional Trading of Moleculin Biotech

A hedge fund recently raised its stake in Moleculin Biotech stock. Armistice Capital LLC grew its holdings in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 156,000 shares of the company’s stock after acquiring an additional 7,505 shares during the quarter. 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 hedge funds and other 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.