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

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

Separately, Maxim Group lowered their target price on shares of Moleculin Biotech from $20.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th.

Moleculin Biotech Stock Up 3.6 %

Shares of NASDAQ:MBRX opened at $1.73 on Monday. Moleculin Biotech has a 1 year low of $1.50 and a 1 year high of $15.75. The stock’s fifty day moving average price is $2.48 and its 200-day moving average price is $2.84.

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% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 156,000 shares of the company’s stock after acquiring an additional 7,505 shares during the period. Armistice Capital LLC owned 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 institutional investors.

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.