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

Analysts at StockNews.com assumed coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a report issued on Wednesday. The firm set a “sell” rating on the stock.

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

Moleculin Biotech Stock Down 0.6 %

NASDAQ MBRX opened at $1.78 on Wednesday. Moleculin Biotech has a 1-year low of $1.50 and a 1-year high of $11.69. The business’s 50-day simple moving average is $2.28 and its 200-day simple moving average is $2.65.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Moleculin Biotech stock. Armistice Capital LLC lifted its stake in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 156,000 shares of the company’s stock after buying an additional 7,505 shares during the quarter. Armistice Capital LLC owned 6.75% of Moleculin Biotech worth $549,000 as of its most recent filing with the SEC. 15.52% of the stock is currently owned by institutional investors.

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.