Short Interest in Moleculin Biotech, Inc. (NASDAQ:MBRX) Declines By 9.8%

Moleculin Biotech, Inc. (NASDAQ:MBRXGet Rating) was the target of a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 51,500 shares, a decline of 9.8% from the October 15th total of 57,100 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average trading volume of 106,600 shares, the short-interest ratio is currently 0.5 days.

Wall Street Analysts Forecast Growth

Several analysts have commented on MBRX shares. Roth Capital lowered their price objective on shares of Moleculin Biotech from $29.00 to $16.00 in a research report on Tuesday, August 16th. Oppenheimer reduced their price objective on shares of Moleculin Biotech from $14.00 to $5.00 in a research note on Friday, November 11th. Finally, initiated coverage on shares of Moleculin Biotech in a research note on Thursday, November 10th. They issued a “sell” rating for the company.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MBRX. Walker Asset Management LLC purchased a new position in Moleculin Biotech during the 2nd quarter valued at $32,000. Renaissance Technologies LLC grew its position 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 buying an additional 26,500 shares during the period. Finally, State Street Corp grew its position in Moleculin Biotech by 19.2% during the 1st quarter. State Street Corp now owns 71,397 shares of the company’s stock valued at $127,000 after purchasing an additional 11,497 shares during the last quarter. 10.48% of the stock is owned by hedge funds and other institutional investors.

Moleculin Biotech Stock Performance

Shares of MBRX opened at $1.02 on Thursday. The firm has a market cap of $29.20 million, a price-to-earnings ratio of -1.17 and a beta of 1.77. Moleculin Biotech has a fifty-two week low of $0.82 and a fifty-two week high of $2.33. The firm has a 50 day moving average price of $1.08 and a 200-day moving average price of $1.38.

Moleculin Biotech (NASDAQ:MBRXGet Rating) last posted its quarterly earnings results on Monday, August 15th. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.01. As a group, equities research analysts predict that Moleculin Biotech will post -1.06 earnings per share for the current year.

Moleculin Biotech Company Profile

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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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