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

StockNews.com started coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a report published on Sunday. The firm issued a sell rating on the stock.

Separately, Maxim Group reduced their price target on Moleculin Biotech from $20.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, November 12th.

Moleculin Biotech Stock Down 5.7 %

Moleculin Biotech stock opened at $2.32 on Friday. The stock has a 50 day moving average of $2.56 and a two-hundred day moving average of $2.97. Moleculin Biotech has a twelve month low of $2.12 and a twelve month high of $15.75.

Hedge Funds Weigh In On Moleculin Biotech

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC increased its stake in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 6.75% of Moleculin Biotech worth $549,000 as of its most recent SEC filing. 15.52% of the stock is owned by hedge funds and other 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.