Moleculin Biotech, Inc. (NASDAQ:MBRX) Sees Significant Growth in Short Interest

Moleculin Biotech, Inc. (NASDAQ:MBRX) saw a large increase in short interest in the month of May. As of May 15th, there was short interest totalling 981,900 shares, an increase of 35.4% from the April 30th total of 725,100 shares. Currently, 7.0% of the company’s shares are short sold. Based on an average daily trading volume, of 1,370,000 shares, the days-to-cover ratio is currently 0.7 days.

Hedge Funds Weigh In On Moleculin Biotech

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC increased its position in Moleculin Biotech, Inc. (NASDAQ:MBRX) by 293.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,250,000 shares of the company’s stock after purchasing an additional 932,414 shares during the quarter. Armistice Capital LLC owned approximately 8.93% of Moleculin Biotech worth $1,217,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 15.52% of the company’s stock.

Moleculin Biotech Stock Down 7.7%

Moleculin Biotech stock opened at $0.84 on Wednesday. Moleculin Biotech has a 1-year low of $0.40 and a 1-year high of $4.90. The firm’s 50 day simple moving average is $0.94 and its 200 day simple moving average is $1.44.

Moleculin Biotech (NASDAQ:MBRX) last announced its earnings results on Tuesday, May 13th. The company reported ($0.69) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.71) by $0.02. During the same quarter in the prior year, the business earned ($2.02) EPS. As a group, analysts predict that Moleculin Biotech will post -7.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MBRX. Maxim Group upgraded Moleculin Biotech from a “hold” rating to a “buy” rating and set a $4.00 price target for the company in a report on Tuesday, March 25th. Wall Street Zen raised shares of Moleculin Biotech to a “sell” rating in a report on Wednesday, March 26th. Finally, HC Wainwright reiterated a “buy” rating and issued a $8.00 target price on shares of Moleculin Biotech in a research note on Monday, March 24th.

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.