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

StockNews.com began coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a research report sent to investors on Thursday. The brokerage issued a sell rating on the stock.

Separately, Maxim Group dropped their target price on Moleculin Biotech from $20.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, November 12th.

Moleculin Biotech Trading Up 8.0 %

Shares of Moleculin Biotech stock opened at $1.88 on Thursday. The business’s 50-day moving average price is $2.20 and its 200-day moving average price is $2.56. Moleculin Biotech has a 12 month low of $1.50 and a 12 month high of $10.35.

Institutional Trading of Moleculin Biotech

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC boosted its position in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 156,000 shares of the company’s stock after acquiring an additional 7,505 shares during the quarter. Armistice Capital LLC owned 6.75% of Moleculin Biotech worth $549,000 at the end of the most recent quarter. 15.52% of the stock is currently owned by institutional investors and hedge funds.

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.