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

Analysts at StockNews.com assumed coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a research report issued on Sunday. The firm set a “sell” rating on the stock.

Moleculin Biotech Trading Up 3.3 %

MBRX stock opened at $2.67 on Friday. The firm has a 50-day moving average of $2.48 and a two-hundred day moving average of $3.57. Moleculin Biotech has a 12 month low of $2.12 and a 12 month high of $15.75.

Moleculin Biotech (NASDAQ:MBRX) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($2.23) EPS for the quarter, missing analysts’ consensus estimates of ($2.10) by ($0.13). Sell-side analysts forecast that Moleculin Biotech will post -8.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Moleculin Biotech

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC lifted its position in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 156,000 shares of the company’s stock after buying an additional 7,505 shares during the period. Armistice Capital LLC owned approximately 6.75% of Moleculin Biotech worth $549,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 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.