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

StockNews.com started coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a research report released on Wednesday morning. The brokerage issued a sell rating on the stock.

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

Moleculin Biotech Stock Down 12.3 %

MBRX stock opened at $2.71 on Wednesday. The company has a fifty day moving average price of $2.52 and a two-hundred day moving average price of $3.30. 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

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC increased its position in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% in the 2nd quarter, according to its most recent Form 13F filing 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 quarter. Armistice Capital LLC owned 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 hedge funds and other institutional investors.

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.