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

Analysts at StockNews.com began coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a research report issued on Thursday. 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 Stock Up 2.1 %

Shares of MBRX stock opened at $2.67 on Thursday. Moleculin Biotech has a 52-week low of $2.12 and a 52-week high of $15.75. The firm’s 50 day moving average price is $2.53 and its two-hundred day moving average price is $3.25.

Institutional Investors Weigh In On Moleculin Biotech

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC lifted its holdings in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 156,000 shares of the company’s stock after buying an additional 7,505 shares during the period. Armistice Capital LLC owned about 6.75% of Moleculin Biotech worth $549,000 as of its most recent filing with the SEC. 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.