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

Investment analysts at StockNews.com initiated coverage on shares of Moleculin Biotech (NASDAQ:MBRXGet Free Report) in a research report issued to clients and investors on Saturday. The firm set a “sell” rating on the stock.

Moleculin Biotech Price Performance

MBRX opened at $2.44 on Friday. The company’s 50 day simple moving average is $2.46 and its two-hundred day simple moving average is $3.74. Moleculin Biotech has a 1-year low of $2.12 and a 1-year high of $15.75.

Moleculin Biotech (NASDAQ:MBRXGet Free Report) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($2.23) EPS for the quarter, missing the consensus estimate of ($2.10) by ($0.13). Equities research analysts anticipate that Moleculin Biotech will post -8.6 EPS for the current year.

Institutional Trading of Moleculin Biotech

A hedge fund recently raised its stake in Moleculin Biotech stock. Armistice Capital LLC increased its position in shares of Moleculin Biotech, Inc. (NASDAQ:MBRXFree Report) by 5.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 156,000 shares of the company’s stock after buying an additional 7,505 shares during the quarter. Armistice Capital LLC owned about 6.75% of Moleculin Biotech worth $549,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 15.52% of the company’s stock.

Moleculin Biotech Company Profile

(Get Free Report)

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.

Further Reading

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