Moleculin Biotech (NASDAQ:MBRX) Now Covered by Analysts at StockNews.com

Investment analysts at StockNews.com began coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a note issued to investors on Friday. The brokerage set a “sell” rating on the stock.

Separately, Maxim Group cut their price target on shares of 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 Stock Down 3.4 %

NASDAQ MBRX opened at $1.70 on Friday. Moleculin Biotech has a one year low of $1.50 and a one year high of $10.35. The stock’s 50-day moving average is $2.11 and its 200-day moving average is $2.50.

Hedge Funds Weigh In On Moleculin Biotech

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC boosted its holdings 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 and Exchange Commission. The institutional investor owned 156,000 shares of the company’s stock after purchasing 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 Securities and Exchange Commission. 15.52% of the stock is 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.