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

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

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

Moleculin Biotech Stock Performance

MBRX stock opened at $2.73 on Thursday. The firm’s 50-day moving average is $2.54 and its two-hundred day moving average is $3.24. Moleculin Biotech has a 52 week low of $2.12 and a 52 week high of $15.75.

Institutional Investors Weigh In On Moleculin Biotech

A hedge fund recently raised its stake in Moleculin Biotech stock. Armistice Capital LLC lifted its holdings in 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 (SEC). The fund owned 156,000 shares of the company’s stock after purchasing an additional 7,505 shares during the period. 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.