StockNews.com Begins Coverage on Moleculin Biotech (NASDAQ:MBRX)

Equities researchers at StockNews.com began coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a note issued to investors on Tuesday. The firm set a “sell” rating on the stock.

Separately, Maxim Group decreased their target price on shares of Moleculin Biotech from $20.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th.

Moleculin Biotech Trading Down 5.0 %

MBRX opened at $1.70 on Tuesday. The firm’s fifty day moving average price is $2.38 and its two-hundred day moving average price is $2.73. Moleculin Biotech has a fifty-two week low of $1.50 and a fifty-two week high of $15.75.

Institutional Trading of Moleculin Biotech

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC raised its stake in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% in the second quarter, according to the company in its most recent disclosure with the 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 approximately 6.75% of Moleculin Biotech worth $549,000 as of its most recent filing with the SEC. Institutional investors 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 1B/2 clinical trials for the treatment of relapsed or refractory acute myeloid leukemia (AML) and soft tissue sarcoma metastasized to the lungs.