Moleculin Biotech (NASDAQ:MBRX) Earns Sell Rating from Analysts at StockNews.com

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

Separately, Maxim Group cut their price objective on Moleculin Biotech from $20.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, November 12th.

Moleculin Biotech Stock Up 5.2 %

NASDAQ MBRX opened at $2.63 on Friday. Moleculin Biotech has a 52-week low of $2.12 and a 52-week high of $15.75. The company has a fifty day moving average of $2.57 and a 200-day moving average of $3.06.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Moleculin Biotech stock. Armistice Capital LLC increased its stake in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,000 shares of the company’s stock after acquiring an additional 7,505 shares during the quarter. Armistice Capital LLC owned approximately 6.75% of Moleculin Biotech worth $549,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 15.52% of the stock is currently owned by institutional investors.

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 1B/2 clinical trials for the treatment of relapsed or refractory acute myeloid leukemia (AML) and soft tissue sarcoma metastasized to the lungs.