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

StockNews.com initiated coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a report issued on Wednesday. The firm issued a sell rating on the stock.

Separately, Maxim Group decreased their price objective on Moleculin Biotech from $20.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th.

Moleculin Biotech Stock Down 7.9 %

Shares of NASDAQ:MBRX opened at $1.64 on Wednesday. Moleculin Biotech has a one year low of $1.50 and a one year high of $11.17. The company has a 50-day simple moving average of $2.27 and a 200-day simple moving average of $2.63.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Moleculin Biotech stock. Armistice Capital LLC grew its holdings in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% during 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 purchasing 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 currently 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.