Moleculin Biotech (NASDAQ:MBRX) Earns Sell Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a research report released on Tuesday morning. The brokerage issued a sell rating on the stock.

Moleculin Biotech Trading Up 9.0 %

Shares of Moleculin Biotech stock opened at $2.55 on Tuesday. 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 of $2.50 and a 200 day moving average of $3.37.

Moleculin Biotech (NASDAQ:MBRX) last issued its earnings results on Tuesday, August 13th. The company reported ($2.23) EPS for the quarter, missing analysts’ consensus estimates of ($2.10) by ($0.13). On average, research analysts predict that Moleculin Biotech will post -8.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Moleculin Biotech stock. Armistice Capital LLC grew its holdings in Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 156,000 shares of the company’s stock after buying 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 reporting period. Institutional investors and hedge funds own 15.52% of the company’s stock.

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.