Short Interest in Moleculin Biotech, Inc. (NASDAQ:MBRX) Increases By 39.0%

Moleculin Biotech, Inc. (NASDAQ:MBRX) was the recipient of a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 3,920,000 shares, a growth of 39.0% from the September 30th total of 2,820,000 shares. Based on an average daily trading volume, of 3,290,000 shares, the short-interest ratio is currently 1.2 days. Approximately 8.2% of the shares of the company are sold short. Approximately 8.2% of the shares of the company are sold short. Based on an average daily trading volume, of 3,290,000 shares, the short-interest ratio is currently 1.2 days.

Hedge Funds Weigh In On Moleculin Biotech

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC increased its stake in Moleculin Biotech, Inc. (NASDAQ:MBRX) by 293.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,250,000 shares of the company’s stock after purchasing an additional 932,414 shares during the quarter. Armistice Capital LLC owned approximately 8.93% of Moleculin Biotech worth $1,217,000 as of its most recent filing with the Securities and Exchange Commission. 15.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MBRX has been the topic of several analyst reports. HC Wainwright restated a “buy” rating and issued a $4.00 target price on shares of Moleculin Biotech in a research report on Wednesday, September 10th. Wall Street Zen lowered Moleculin Biotech to a “strong sell” rating in a report on Friday, October 3rd. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Moleculin Biotech in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Moleculin Biotech presently has an average rating of “Hold” and an average price target of $4.00.

Moleculin Biotech Stock Performance

Shares of NASDAQ MBRX traded up $0.05 during trading on Monday, hitting $0.52. The company had a trading volume of 23,264,407 shares, compared to its average volume of 4,473,882. Moleculin Biotech has a 52 week low of $0.25 and a 52 week high of $3.65. The business’s 50-day moving average is $0.45 and its 200 day moving average is $0.63. The company has a market cap of $25.72 million, a P/E ratio of -0.16 and a beta of 1.59.

Moleculin Biotech (NASDAQ:MBRX) last issued its earnings results on Tuesday, August 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.10). On average, research analysts expect that Moleculin Biotech will post -7.98 EPS for the current year.

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.