Moleculin Biotech (NASDAQ:MBRX) Receives New Coverage from Analysts at StockNews.com

Investment analysts at StockNews.com began coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a research note issued to investors on Thursday. The firm set a “sell” rating on the stock.

Moleculin Biotech Stock Performance

Shares of NASDAQ MBRX opened at $2.41 on Thursday. Moleculin Biotech has a one year low of $2.12 and a one year high of $15.75. The business’s 50-day moving average price is $2.68 and its two-hundred day moving average price is $4.10.

Moleculin Biotech (NASDAQ:MBRX) last released its quarterly earnings data 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). On average, sell-side analysts predict that Moleculin Biotech will post -8.6 EPS for the current year.

Hedge Funds Weigh In On Moleculin Biotech

A hedge fund recently bought a new stake in Moleculin Biotech stock. Armistice Capital LLC purchased a new position in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,207,417 shares of the company’s stock, valued at approximately $2,753,000. Armistice Capital LLC owned approximately 9.60% of Moleculin Biotech at the end of the most recent quarter. 15.52% of the stock is owned by institutional investors and hedge funds.

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.