StockNews.com Begins Coverage on Moleculin Biotech (NASDAQ:MBRX)

Stock analysts at StockNews.com assumed coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a research note issued on Saturday. The firm set a “sell” rating on the stock.

A number of other analysts also recently commented on the stock. Maxim Group dropped their target price on shares of Moleculin Biotech from $45.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, March 26th. Roth Mkm reissued a “buy” rating and set a $40.00 price objective on shares of Moleculin Biotech in a research note on Friday.

Moleculin Biotech Stock Down 3.6 %

Shares of MBRX stock opened at $4.60 on Friday. The stock has a 50-day simple moving average of $7.39 and a 200 day simple moving average of $8.17. The stock has a market capitalization of $10.26 million, a P/E ratio of -0.34 and a beta of 1.95. Moleculin Biotech has a fifty-two week low of $4.34 and a fifty-two week high of $24.75.

Institutional Investors Weigh In On Moleculin Biotech

Several hedge funds have recently made changes to their positions in MBRX. Armistice Capital LLC purchased a new position in Moleculin Biotech during the 4th quarter worth approximately $2,753,000. Citadel Advisors LLC acquired a new stake in shares of Moleculin Biotech in the fourth quarter worth $55,000. Atticus Wealth Management LLC acquired a new stake in shares of Moleculin Biotech in the fourth quarter worth $43,000. Charles Schwab Investment Management Inc. purchased a new position in shares of Moleculin Biotech during the fourth quarter valued at $39,000. Finally, Renaissance Technologies LLC raised its position in Moleculin Biotech by 34.7% during the second quarter. Renaissance Technologies LLC now owns 127,400 shares of the company’s stock valued at $74,000 after buying an additional 32,795 shares during the period. Hedge funds and other institutional investors own 15.52% of the company’s stock.

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 1/2 studies for the treatment of relapsed or refractory acute myeloid leukemia (AML) and cancers metastasized to the lungs.