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

Equities researchers at StockNews.com began coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a research report issued to clients and investors on Monday. The brokerage set a “sell” rating on the stock.

MBRX has been the topic of a number of other reports. Roth Mkm restated a “buy” rating and set a $40.00 price target on shares of Moleculin Biotech in a research report on Friday, April 12th. Maxim Group decreased their price target on Moleculin Biotech from $45.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, March 26th.

Moleculin Biotech Price Performance

NASDAQ MBRX opened at $4.63 on Monday. The firm has a market cap of $10.32 million, a PE ratio of -0.34 and a beta of 1.95. Moleculin Biotech has a one year low of $4.28 and a one year high of $15.75. The stock’s 50 day simple moving average is $6.69 and its 200 day simple moving average is $8.03.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Moleculin Biotech stock. Armistice Capital LLC purchased a new stake in Moleculin Biotech, Inc. (NASDAQ:MBRX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,207,417 shares of the company’s stock, valued at approximately $2,753,000. Armistice Capital LLC owned 9.60% of Moleculin Biotech as of its most recent SEC filing. 15.52% of the stock is owned by hedge funds and other 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 1/2 studies for the treatment of relapsed or refractory acute myeloid leukemia (AML) and cancers metastasized to the lungs.