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

StockNews.com initiated coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a research note issued on Friday. The brokerage set a “sell” rating on the stock.

Separately, Maxim Group lowered their target price on Moleculin Biotech from $20.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th.

Moleculin Biotech Trading Up 3.0 %

MBRX opened at $2.77 on Friday. Moleculin Biotech has a one year low of $2.12 and a one year high of $15.75. The business’s 50 day moving average price is $2.57 and its 200 day moving average price is $3.13.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC grew its position in Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 156,000 shares of the company’s stock after acquiring 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 filing with the Securities and Exchange Commission. 15.52% of the stock is currently 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.