StockNews.com Initiates Coverage on Moleculin Biotech (NASDAQ:MBRX)

Research analysts at StockNews.com began coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a research note issued to investors on Wednesday. The firm set a “sell” rating on the stock.

Separately, Maxim Group lowered their price objective on shares of Moleculin Biotech from $20.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday.

Moleculin Biotech Price Performance

Shares of MBRX opened at $2.64 on Wednesday. Moleculin Biotech has a 52-week low of $2.12 and a 52-week high of $15.75. The business’s 50 day moving average price is $2.50 and its two-hundred day moving average price is $3.34.

Moleculin Biotech (NASDAQ:MBRX) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($2.23) earnings per share for the quarter, missing the consensus estimate of ($2.10) by ($0.13). As a group, research analysts forecast that Moleculin Biotech will post -8.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Moleculin Biotech

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC lifted its holdings in Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 156,000 shares of the company’s stock after buying an additional 7,505 shares during the period. Armistice Capital LLC owned approximately 6.75% of Moleculin Biotech worth $549,000 at the end of the most recent reporting period. 15.52% of the stock is owned by hedge funds and other institutional investors.

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.