Moleculin Biotech (NASDAQ:MBRX) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a report published on Saturday. The firm issued a sell rating on the stock.

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

Moleculin Biotech Price Performance

NASDAQ:MBRX opened at $2.63 on Friday. The business has a fifty day simple moving average of $2.57 and a two-hundred day simple moving average of $3.05. Moleculin Biotech has a 1 year low of $2.12 and a 1 year high of $15.75.

Hedge Funds Weigh In On Moleculin Biotech

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC boosted its stake in Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 156,000 shares of the company’s stock after purchasing 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 Securities & Exchange Commission. Hedge funds and other 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.