Moleculin Biotech (NASDAQ:MBRX) Now Covered by Analysts at StockNews.com

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

Separately, Roth Mkm restated a buy rating and set a $40.00 target price on shares of Moleculin Biotech in a research note on Friday, April 12th.

Moleculin Biotech Stock Performance

MBRX opened at $2.27 on Friday. Moleculin Biotech has a fifty-two week low of $2.12 and a fifty-two week high of $15.75. The firm’s fifty day moving average is $3.67 and its 200 day moving average is $5.42.

Moleculin Biotech (NASDAQ:MBRX) last released its earnings results on Friday, May 10th. The company reported ($2.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.59) by $1.57. Equities analysts forecast that Moleculin Biotech will post -6.78 earnings per share for the current fiscal year.

Institutional Trading of Moleculin Biotech

A hedge fund recently bought a new stake in Moleculin Biotech stock. Armistice Capital LLC purchased a new position in Moleculin Biotech, Inc. (NASDAQ:MBRX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,207,417 shares of the company’s stock, valued at approximately $2,753,000. Armistice Capital LLC owned approximately 9.60% of Moleculin Biotech as of its most recent SEC filing. Institutional investors own 15.52% of the company’s stock.

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.