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

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

Moleculin Biotech Price Performance

Shares of MBRX stock opened at $2.60 on Monday. Moleculin Biotech has a 12-month low of $2.12 and a 12-month high of $15.75. The firm has a 50-day moving average price of $2.51 and a 200 day moving average price of $3.45.

Moleculin Biotech (NASDAQ:MBRX) last announced its earnings results on Tuesday, August 13th. The company reported ($2.23) EPS for the quarter, missing the consensus estimate of ($2.10) by ($0.13). On average, research analysts predict that Moleculin Biotech will post -8.6 EPS for the current year.

Institutional Investors Weigh In On Moleculin Biotech

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC raised its stake in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 about 6.75% of Moleculin Biotech worth $549,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 15.52% of the company’s stock.

Moleculin Biotech Company Profile

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.