Short Interest in Moleculin Biotech, Inc. (NASDAQ:MBRX) Declines By 98.4%

Moleculin Biotech, Inc. (NASDAQ:MBRX) was the recipient of a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 2,100 shares, a drop of 98.4% from the February 29th total of 134,400 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average daily volume of 28,800 shares, the short-interest ratio is presently 0.1 days.

Moleculin Biotech Stock Performance

Shares of MBRX stock traded up $0.37 during midday trading on Thursday, reaching $5.91. 77,998 shares of the company were exchanged, compared to its average volume of 31,255. The company’s 50 day moving average price is $7.88 and its two-hundred day moving average price is $8.23. Moleculin Biotech has a 12 month low of $4.34 and a 12 month high of $24.75. The company has a market cap of $13.18 million, a P/E ratio of -0.44 and a beta of 1.98.

Analysts Set New Price Targets

MBRX has been the subject of several research reports. StockNews.com started coverage on shares of Moleculin Biotech in a research note on Thursday. They issued a “sell” rating for the company. HC Wainwright reissued a “buy” rating and set a $45.00 price objective on shares of Moleculin Biotech in a research note on Thursday, December 14th. Finally, Maxim Group lowered their price target on shares of Moleculin Biotech from $45.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. purchased a new stake in Moleculin Biotech during the 4th quarter valued at $39,000. Atticus Wealth Management LLC purchased a new position in shares of Moleculin Biotech during the 4th quarter worth $43,000. Citadel Advisors LLC acquired a new position in shares of Moleculin Biotech during the 4th quarter valued at about $55,000. Renaissance Technologies LLC boosted its position in Moleculin Biotech by 34.7% in the 2nd quarter. Renaissance Technologies LLC now owns 127,400 shares of the company’s stock valued at $74,000 after buying an additional 32,795 shares during the period. Finally, State Street Corp raised its stake in Moleculin Biotech by 19.2% during the 1st quarter. State Street Corp now owns 71,397 shares of the company’s stock worth $127,000 after acquiring an additional 11,497 shares in the last quarter. 15.52% of the stock is owned by 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 1/2 studies for the treatment of relapsed or refractory acute myeloid leukemia (AML) and cancers metastasized to the lungs.