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

Analysts at StockNews.com initiated coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a research report issued to clients and investors on Monday. The brokerage set a “sell” rating on the stock.

Moleculin Biotech Price Performance

Shares of NASDAQ:MBRX opened at $2.58 on Monday. Moleculin Biotech has a 12 month low of $2.12 and a 12 month high of $15.75. The company’s 50-day moving average price is $2.50 and its two-hundred day moving average price is $3.51.

Moleculin Biotech (NASDAQ:MBRX) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($2.23) EPS for the quarter, missing the consensus estimate of ($2.10) by ($0.13). On average, sell-side analysts expect that Moleculin Biotech will post -8.6 EPS for the current fiscal year.

Institutional Investors Weigh In On Moleculin Biotech

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC increased its position in Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 approximately 6.75% of Moleculin Biotech worth $549,000 as of its most recent SEC filing. 15.52% of the stock is currently owned by hedge funds and other 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.