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

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

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

Moleculin Biotech Stock Performance

Shares of NASDAQ MBRX opened at $1.79 on Tuesday. Moleculin Biotech has a one year low of $1.50 and a one year high of $15.75. The business’s 50-day moving average price is $2.41 and its two-hundred day moving average price is $2.75.

Hedge Funds Weigh In On Moleculin Biotech

A hedge fund recently raised its stake in Moleculin Biotech stock. Armistice Capital LLC increased its stake in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 156,000 shares of the company’s stock after acquiring an additional 7,505 shares during the period. Armistice Capital LLC owned 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.