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

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

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

Moleculin Biotech Stock Down 12.3 %

Shares of MBRX opened at $2.71 on Wednesday. Moleculin Biotech has a twelve month low of $2.12 and a twelve month high of $15.75. The company has a 50 day moving average of $2.52 and a 200-day moving average of $3.30.

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% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 about 6.75% of Moleculin Biotech worth $549,000 at the end of the most recent reporting period. 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.