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

StockNews.com began coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a report released on Wednesday morning. The brokerage issued a sell rating on the stock.

Separately, Maxim Group cut their price target on 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 Stock Performance

NASDAQ:MBRX opened at $1.64 on Wednesday. Moleculin Biotech has a 12-month low of $1.50 and a 12-month high of $11.17. The company’s 50-day moving average is $2.27 and its two-hundred day moving average is $2.63.

Institutional Trading of Moleculin Biotech

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC boosted its stake in Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 156,000 shares of the company’s stock after purchasing an additional 7,505 shares during the quarter. Armistice Capital LLC owned about 6.75% of Moleculin Biotech worth $549,000 as of its most recent filing with the SEC. Institutional investors and hedge funds 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.