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

Equities researchers at StockNews.com started coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a research note issued on Monday. The firm set a “sell” rating on the stock.

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

Moleculin Biotech Price Performance

Shares of NASDAQ MBRX opened at $1.67 on Monday. The firm’s 50-day moving average price is $2.50 and its two-hundred day moving average price is $2.86. Moleculin Biotech has a 52-week low of $1.67 and a 52-week high of $15.75.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Moleculin Biotech stock. Armistice Capital LLC increased its stake in Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,000 shares of the company’s stock after acquiring 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 owned by hedge funds and other 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 1B/2 clinical trials for the treatment of relapsed or refractory acute myeloid leukemia (AML) and soft tissue sarcoma metastasized to the lungs.