Moleculin Biotech (NASDAQ:MBRX) Price Target Lowered to $8.00 at Maxim Group

Moleculin Biotech (NASDAQ:MBRX) had its target price trimmed by Maxim Group from $20.00 to $8.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, StockNews.com assumed coverage on Moleculin Biotech in a research note on Tuesday, November 5th. They issued a “sell” rating for the company.

Moleculin Biotech Trading Up 5.0 %

NASDAQ:MBRX opened at $2.64 on Tuesday. Moleculin Biotech has a 1 year low of $2.12 and a 1 year high of $15.75. The firm has a 50 day moving average of $2.50 and a 200-day moving average of $3.34.

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC lifted its position in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 approximately 6.75% of Moleculin Biotech worth $549,000 at the end of the most recent reporting period. 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.