Short Interest in Moleculin Biotech, Inc. (NASDAQ:MBRX) Rises By 17.0%

Moleculin Biotech, Inc. (NASDAQ:MBRX) was the recipient of a significant increase in short interest in September. As of September 15th, there was short interest totalling 125,200 shares, an increase of 17.0% from the August 31st total of 107,000 shares. Based on an average daily trading volume, of 37,100 shares, the short-interest ratio is currently 3.4 days. Approximately 4.6% of the company’s stock are sold short.

Institutional Investors Weigh In On Moleculin Biotech

A hedge fund recently bought a new stake in Moleculin Biotech stock. Armistice Capital LLC bought a new position in Moleculin Biotech, Inc. (NASDAQ:MBRX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 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 at the end of the most recent reporting period. Institutional investors and hedge funds own 15.52% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of Moleculin Biotech in a research report on Thursday. They issued a “sell” rating for the company.

Moleculin Biotech Trading Down 2.9 %

Shares of MBRX stock traded down $0.08 on Monday, hitting $2.67. 12,438 shares of the stock traded hands, compared to its average volume of 31,335. Moleculin Biotech has a twelve month low of $2.12 and a twelve month high of $15.75. The firm’s 50-day moving average price is $2.60 and its two-hundred day moving average price is $3.98.

Moleculin Biotech (NASDAQ:MBRX) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($2.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.10) by ($0.13). As a group, equities analysts predict that Moleculin Biotech will post -8.6 earnings per share for the current year.

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.