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

Analysts at 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.

Moleculin Biotech Price Performance

Shares of MBRX stock opened at $2.46 on Friday. Moleculin Biotech has a 1 year low of $2.12 and a 1 year high of $15.75. The firm has a fifty day moving average price of $2.52 and a 200-day moving average price of $3.89.

Moleculin Biotech (NASDAQ:MBRX) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($2.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.10) by ($0.13). Sell-side analysts forecast that Moleculin Biotech will post -8.6 EPS for the current year.

Institutional Investors Weigh In On Moleculin Biotech

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC lifted its position in Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). 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 (SEC). 15.52% of the stock is owned by 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.