Moleculin Biotech Stock Set to Reverse Split on Tuesday, October 20th (NASDAQ:MBRX)

Shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) are set to reverse split on Tuesday, October 20th. The 1-20 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Monday, October 19th.

Moleculin Biotech Price Performance

Shares of Moleculin Biotech stock traded down $0.09 during trading hours on Friday, hitting $0.28. 1,180,292 shares of the company’s stock traded hands, compared to its average volume of 640,778. The stock has a market capitalization of $5.46 million, a price-to-earnings ratio of -0.04 and a beta of 2.00. Moleculin Biotech has a 12-month low of $0.16 and a 12-month high of $15.75. The company has a fifty day simple moving average of $0.58 and a 200-day simple moving average of $1.71.

Moleculin Biotech (NASDAQ:MBRX) last released its earnings results on Thursday, August 13th. The company reported ($1.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.55) by $0.15. On average, analysts forecast that Moleculin Biotech will post -2.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MBRX has been the subject of several research analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Moleculin Biotech in a research report on Thursday. Wall Street Zen upgraded Moleculin Biotech from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. Finally, HC Wainwright dropped their target price on shares of Moleculin Biotech to $3.00 and set a “buy” rating on the stock in a report on Friday, August 28th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $3.00.

About Moleculin Biotech

Moleculin Biotech, Inc is a clinical-stage pharmaceutical company focused on developing treatments for cancer and other serious diseases. Its research programs are based on compounds designed to target biological mechanisms involved in tumor growth, drug resistance and immune-system regulation.

The company’s lead program is annamycins, including L-annamycin, an anthracycline designed to retain anticancer activity while reducing some limitations associated with conventional anthracyclines, particularly damage to the heart.