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

Equities researchers at StockNews.com assumed coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a research report issued to clients and investors on Wednesday. The brokerage set a “sell” rating on the stock.

Separately, Maxim Group cut 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 report on Tuesday, November 12th.

Moleculin Biotech Price Performance

Shares of MBRX stock opened at $1.79 on Wednesday. Moleculin Biotech has a 1-year low of $1.50 and a 1-year high of $12.90. The stock has a 50-day moving average of $2.33 and a 200-day moving average of $2.67.

Hedge Funds Weigh In On Moleculin Biotech

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC lifted its stake in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 about 6.75% of Moleculin Biotech worth $549,000 at the end of the most recent quarter. 15.52% of the stock is currently owned by institutional investors and hedge funds.

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.