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 issued on Saturday morning. The firm issued a sell rating on the stock.

Several other research firms also recently commented on MBRX. Maxim Group dropped their price target on shares of Moleculin Biotech from $45.00 to $20.00 and set a buy rating for the company in a research note on Tuesday, March 26th. Roth Mkm reiterated a buy rating and set a $40.00 target price on shares of Moleculin Biotech in a research note on Friday.

Moleculin Biotech Stock Performance

NASDAQ:MBRX opened at $4.63 on Friday. The company has a fifty day simple moving average of $7.33 and a two-hundred day simple moving average of $8.17. Moleculin Biotech has a 52 week low of $4.34 and a 52 week high of $24.75.

Hedge Funds Weigh In On Moleculin Biotech

Institutional investors and hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. acquired a new position in shares of Moleculin Biotech during the fourth quarter worth $39,000. Atticus Wealth Management LLC purchased a new stake in Moleculin Biotech in the fourth quarter valued at $43,000. Citadel Advisors LLC purchased a new stake in Moleculin Biotech in the fourth quarter valued at $55,000. Renaissance Technologies LLC lifted its position in Moleculin Biotech by 34.7% in the second quarter. Renaissance Technologies LLC now owns 127,400 shares of the company’s stock valued at $74,000 after acquiring an additional 32,795 shares during the last quarter. Finally, State Street Corp lifted its position in Moleculin Biotech by 19.2% in the first quarter. State Street Corp now owns 71,397 shares of the company’s stock valued at $127,000 after acquiring an additional 11,497 shares during the last quarter. Institutional investors and hedge funds own 15.52% of the company’s stock.

About Moleculin Biotech

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 1/2 studies for the treatment of relapsed or refractory acute myeloid leukemia (AML) and cancers metastasized to the lungs.