Moleculin Biotech (NASDAQ:MBRX) Stock Price Passes Below 50-Day Moving Average – What’s Next?

Moleculin Biotech, Inc. (NASDAQ:MBRX) crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $2.55 and traded as low as $2.05. Moleculin Biotech shares last traded at $2.10, with a volume of 152,089 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on MBRX shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Moleculin Biotech in a research report on Tuesday, April 21st. HC Wainwright reiterated a “buy” rating and set a $22.00 target price on shares of Moleculin Biotech in a research note on Tuesday, March 24th. Finally, Wall Street Zen cut shares of Moleculin Biotech from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $22.00.

Moleculin Biotech Price Performance

The company has a market capitalization of $11.21 million, a price-to-earnings ratio of -0.12 and a beta of 1.75. The business has a fifty day moving average price of $2.55 and a 200 day moving average price of $2.90.

Moleculin Biotech (NASDAQ:MBRX) last announced its earnings results on Thursday, May 14th. The company reported ($3.54) EPS for the quarter, missing the consensus estimate of ($2.33) by ($1.21). Research analysts anticipate that Moleculin Biotech, Inc. will post -5.1 earnings per share for the current year.

Hedge Funds Weigh In On Moleculin Biotech

An institutional investor recently bought a new position in Moleculin Biotech stock. Jane Street Group LLC bought a new stake in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 22,550 shares of the company’s stock, valued at approximately $75,000. Jane Street Group LLC owned 1.11% of Moleculin Biotech as of its most recent SEC filing. Hedge funds and other institutional investors own 15.52% of the company’s stock.

About Moleculin Biotech

Moleculin Biotech, Inc is a clinical-stage pharmaceutical company focused on the development of novel therapies for the treatment of highly resistant tumors and viral infections. The company’s research platform centers on the design and synthesis of drug candidates that target key cellular pathways in cancer cells and viral replication processes. By leveraging a proprietary chemistry approach, Moleculin aims to address diseases that have limited therapeutic options and high unmet medical need.

The company’s pipeline includes multiple product candidates at various stages of development.