Moleculin Biotech, Inc. (NASDAQ:MBRX) Sees Significant Drop in Short Interest

Moleculin Biotech, Inc. (NASDAQ:MBRX) was the target of a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 463,600 shares, a decrease of 57.1% from the February 28th total of 1,080,000 shares. Based on an average daily volume of 5,330,000 shares, the days-to-cover ratio is currently 0.1 days. Currently, 3.3% of the shares of the stock are sold short.

Moleculin Biotech Stock Performance

NASDAQ:MBRX traded down $0.01 during mid-day trading on Friday, hitting $1.04. 368,992 shares of the company’s stock traded hands, compared to its average volume of 1,417,318. The firm’s 50 day simple moving average is $1.29 and its 200 day simple moving average is $1.98. Moleculin Biotech has a 1 year low of $0.40 and a 1 year high of $6.09.

Analysts Set New Price Targets

A number of research firms recently commented on MBRX. HC Wainwright reissued a “buy” rating and set a $8.00 price objective on shares of Moleculin Biotech in a report on Monday, March 24th. Maxim Group raised Moleculin Biotech from a “hold” rating to a “buy” rating and set a $4.00 price target on the stock in a research note on Tuesday. Finally, StockNews.com upgraded Moleculin Biotech to a “sell” rating in a report on Wednesday.

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.