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

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

Moleculin Biotech Stock Performance

Shares of NASDAQ MBRX opened at $2.75 on Thursday. The firm has a 50 day moving average price of $2.60 and a 200 day moving average price of $4.01. Moleculin Biotech has a 52-week low of $2.12 and a 52-week high of $15.75.

Moleculin Biotech (NASDAQ:MBRX) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($2.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.10) by ($0.13). On average, sell-side analysts forecast that Moleculin Biotech will post -8.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Moleculin Biotech stock. Armistice Capital LLC increased its position in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 156,000 shares of the company’s stock after buying an additional 7,505 shares during the period. Armistice Capital LLC owned 6.75% of Moleculin Biotech worth $549,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds 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.