Begins Coverage on Moleculin Biotech (NASDAQ:MBRX)

Investment analysts at started coverage on shares of Moleculin Biotech (NASDAQ:MBRXGet Rating) in a note issued to investors on Thursday. The brokerage set a “sell” rating on the stock.

MBRX has been the topic of several other reports. Roth Capital dropped their target price on shares of Moleculin Biotech from $29.00 to $16.00 in a research report on Tuesday, August 16th. Oppenheimer reissued an “outperform” rating and issued a $14.00 target price on shares of Moleculin Biotech in a research report on Monday, July 18th.

Moleculin Biotech Price Performance

NASDAQ MBRX opened at $0.89 on Thursday. The company’s 50 day simple moving average is $1.13 and its 200 day simple moving average is $1.40. Moleculin Biotech has a 12 month low of $0.82 and a 12 month high of $2.58. The company has a market capitalization of $25.60 million, a P/E ratio of -1.24 and a beta of 1.77.

Moleculin Biotech (NASDAQ:MBRXGet Rating) last released its earnings results on Monday, August 15th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.01. On average, analysts anticipate that Moleculin Biotech will post -1.02 earnings per share for the current year.

Institutional Trading of Moleculin Biotech

Several large investors have recently added to or reduced their stakes in the business. State Street Corp grew its position in Moleculin Biotech by 19.2% in the first quarter. State Street Corp now owns 71,397 shares of the company’s stock worth $127,000 after acquiring an additional 11,497 shares in the last quarter. Walker Asset Management LLC acquired a new position in shares of Moleculin Biotech in the 2nd quarter valued at $32,000. Finally, Renaissance Technologies LLC grew its holdings in shares of Moleculin Biotech by 79.3% in the 1st quarter. Renaissance Technologies LLC now owns 59,900 shares of the company’s stock worth $107,000 after purchasing an additional 26,500 shares during the last quarter. 10.48% of the stock is owned by institutional investors.

Moleculin Biotech Company Profile

(Get Rating)

Moleculin Biotech, Inc, a clinical-stage pharmaceutical company, focuses on the development of drug candidates for the treatment of highly resistant tumors and viruses. Its lead drug candidate is Annamycin that is in Phase 1/2 studies for the treatment of relapsed or refractory acute myeloid leukemia (AML) and cancers metastasized to the lungs.

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