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

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

Moleculin Biotech Stock Performance

NASDAQ:MBRX opened at $2.36 on Tuesday. Moleculin Biotech has a 12-month low of $2.12 and a 12-month high of $15.75. The company’s 50-day moving average is $3.00 and its two-hundred day moving average is $4.66.

Moleculin Biotech (NASDAQ:MBRX) last announced its quarterly earnings data 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). Analysts forecast that Moleculin Biotech will post -8.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Moleculin Biotech

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC boosted its stake in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 156,000 shares of the company’s stock after purchasing an additional 7,505 shares during the period. Armistice Capital LLC owned approximately 6.75% of Moleculin Biotech worth $549,000 at the end of the most recent reporting period. Hedge funds and other institutional investors 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.