StockNews.com Initiates Coverage on Moleculin Biotech (NASDAQ:MBRX)

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

Separately, Maxim Group reduced their target price 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 Stock Performance

NASDAQ MBRX opened at $2.73 on Thursday. The stock’s 50 day moving average is $2.55 and its 200 day moving average is $3.21. 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

A hedge fund recently raised its stake 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 disclosure with the Securities & Exchange Commission. 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 approximately 6.75% of Moleculin Biotech worth $549,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds 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.