Moleculin Biotech, Inc. (NASDAQ:MBRX) Shares Shorted: Short Interest Down 38.3% in October

Moleculin Biotech, Inc. (NASDAQ:MBRX) was the target of a large decline in short interest during the month of October. As of October 15th, there was short interest totaling 126,324 shares, a decline of 38.3% from the September 30th total of 204,583 shares. Approximately 15.0% of the shares of the company are short sold. Based on an average trading volume of 354,271 shares, the days-to-cover ratio is presently 0.4 days.

Moleculin Biotech Stock Down 9.4%

Shares of NASDAQ:MBRX opened at $7.90 on Friday. Moleculin Biotech has a 12-month low of $3.23 and a 12-month high of $315.00. The business has a 50 day moving average of $10.84 and a 200-day moving average of $40.73. The stock has a market cap of $8.14 million, a PE ratio of -1.11 and a beta of 2.00.

Moleculin Biotech (NASDAQ:MBRX) last announced its earnings results on Thursday, August 13th. The company reported ($28.00) earnings per share for the quarter, topping analysts’ consensus estimates of ($31.00) by $3.00. Equities research analysts expect that Moleculin Biotech will post -47.40 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MBRX. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Moleculin Biotech in a report on Thursday, October 15th. HC Wainwright dropped their price objective on shares of Moleculin Biotech to $60.00 and set a “buy” rating on the stock in a research report on Friday, August 28th. Finally, Wall Street Zen upgraded shares of Moleculin Biotech from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $60.00.

About Moleculin Biotech

Moleculin Biotech, Inc is a clinical-stage pharmaceutical company focused on developing treatments for cancers and other serious diseases. The company uses its proprietary technology platforms to design drug candidates intended to address treatment resistance, improve drug delivery, and target biological pathways involved in disease progression.

Moleculin’s lead program is Annamycin, a liposomal formulation of the anthracycline doxorubicin being investigated for acute myeloid leukemia and soft-tissue sarcoma.