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

Research analysts at StockNews.com began coverage on shares of Moleculin Biotech (NASDAQ:MBRXGet Rating) in a research note issued to investors on Friday. The firm set a “sell” rating on the stock.

A number of other research analysts have also recently commented on the stock. Roth Capital reduced their price target on shares of Moleculin Biotech from $29.00 to $16.00 in a research report on Tuesday, August 16th. Oppenheimer cut their target price on shares of Moleculin Biotech from $14.00 to $5.00 in a report on Friday, November 11th.

Moleculin Biotech Price Performance

Shares of NASDAQ MBRX opened at $1.05 on Friday. Moleculin Biotech has a one year low of $0.82 and a one year high of $2.33. The firm’s 50 day simple moving average is $1.06 and its two-hundred day simple moving average is $1.37. The stock has a market capitalization of $30.06 million, a P/E ratio of -1.21 and a beta of 1.77.

Insider Transactions at Moleculin Biotech

In related news, CEO Walter V. Klemp purchased 85,213 shares of the business’s stock in a transaction that occurred on Wednesday, November 16th. The shares were acquired at an average price of $0.97 per share, for a total transaction of $82,656.61. Following the completion of the acquisition, the chief executive officer now directly owns 317,648 shares in the company, valued at approximately $308,118.56. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.70% of the company’s stock.

Institutional Trading of Moleculin Biotech

Several large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its holdings in Moleculin Biotech by 47.1% in the second quarter. Renaissance Technologies LLC now owns 88,100 shares of the company’s stock valued at $128,000 after acquiring an additional 28,200 shares in the last quarter. Walker Asset Management LLC purchased a new position in Moleculin Biotech during the second quarter valued at $32,000. Finally, State Street Corp lifted its position in Moleculin Biotech by 19.2% during the first quarter. State Street Corp now owns 71,397 shares of the company’s stock valued at $127,000 after buying an additional 11,497 shares during the period. Institutional investors own 10.48% of the company’s stock.

About Moleculin Biotech

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Moleculin Biotech, Inc, a clinical-stage pharmaceutical company, focuses on the development of drug candidates for the treatment of highly resistant tumors and viruses. Its lead drug candidate is Annamycin that is in Phase 1/2 studies for the treatment of relapsed or refractory acute myeloid leukemia (AML) and cancers metastasized to the lungs.

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