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

StockNews.com initiated coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a report released on Friday morning. The firm issued 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 for the company in a research note on Tuesday, November 12th.

Moleculin Biotech Trading Down 3.4 %

MBRX opened at $1.70 on Friday. The business’s 50-day simple moving average is $2.11 and its 200 day simple moving average is $2.51. Moleculin Biotech has a 52-week low of $1.50 and a 52-week high of $10.35.

Hedge Funds Weigh In On Moleculin Biotech

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC boosted its holdings in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,000 shares of the company’s stock after acquiring an additional 7,505 shares during the quarter. Armistice Capital LLC owned 6.75% of Moleculin Biotech worth $549,000 at the end of the most recent quarter. 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.