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

Analysts at StockNews.com started coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a research report issued to clients and investors on Saturday. The firm set a “sell” rating on the stock.

Moleculin Biotech Stock Up 0.4 %

MBRX stock opened at $2.44 on Friday. The company has a fifty day moving average price of $2.46 and a two-hundred day moving average price of $3.71. Moleculin Biotech has a one year low of $2.12 and a one year high of $15.75.

Moleculin Biotech (NASDAQ:MBRX) last announced its earnings results on Tuesday, August 13th. The company reported ($2.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.10) by ($0.13). Research analysts forecast that Moleculin Biotech will post -8.6 EPS for the current year.

Institutional Trading of Moleculin Biotech

A hedge fund recently raised its stake in Moleculin Biotech stock. Armistice Capital LLC lifted its position in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 156,000 shares of the company’s stock after acquiring an additional 7,505 shares during the quarter. 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.

Moleculin Biotech Company Profile

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.