Moleculin Biotech, Inc. (NASDAQ:MBRX) Sees Large Decrease in Short Interest

Moleculin Biotech, Inc. (NASDAQ:MBRX) was the target of a significant decrease in short interest in March. As of March 15th, there was short interest totalling 463,600 shares, a decrease of 57.1% from the February 28th total of 1,080,000 shares. Approximately 3.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 5,330,000 shares, the days-to-cover ratio is presently 0.1 days.

Moleculin Biotech Stock Performance

NASDAQ MBRX opened at $1.05 on Friday. The business has a fifty day moving average price of $1.30 and a two-hundred day moving average price of $1.99. Moleculin Biotech has a fifty-two week low of $0.40 and a fifty-two week high of $6.23.

Analyst Ratings Changes

MBRX has been the subject of several analyst reports. StockNews.com raised Moleculin Biotech to a “sell” rating in a report on Wednesday. HC Wainwright restated a “buy” rating and issued a $8.00 price target on shares of Moleculin Biotech in a research report on Monday. Finally, Maxim Group raised shares of Moleculin Biotech from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a research report on Tuesday.

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.