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

Investment analysts at StockNews.com began coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a research report issued on Saturday. The firm set a “sell” rating on the stock.

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

Moleculin Biotech Stock Performance

Moleculin Biotech stock opened at $2.63 on Friday. The company has a 50-day simple moving average of $2.57 and a 200-day simple moving average of $3.04. Moleculin Biotech has a one year low of $2.12 and a one year high of $15.75.

Institutional Investors Weigh In On Moleculin Biotech

A hedge fund recently raised its stake in Moleculin Biotech stock. Armistice Capital LLC lifted its stake in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 156,000 shares of the company’s stock after acquiring an additional 7,505 shares during the quarter. Armistice Capital LLC owned about 6.75% of Moleculin Biotech worth $549,000 at the end of the most recent reporting period. 15.52% of the stock is currently owned by institutional investors.

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.