Moleculin Biotech (NASDAQ:MBRX) Now Covered by HC Wainwright

HC Wainwright initiated coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a research note published on Monday, Marketbeat.com reports. The brokerage issued a buy rating and a $4.00 price objective on the stock.

A number of other equities research analysts have also weighed in on MBRX. Wall Street Zen upgraded shares of Moleculin Biotech to a “sell” rating in a report on Wednesday, March 26th. Maxim Group raised shares of Moleculin Biotech from a “hold” rating to a “buy” rating and set a $4.00 target price on the stock in a research report on Tuesday, March 25th.

Moleculin Biotech Price Performance

MBRX opened at $0.67 on Monday. The stock’s 50 day moving average price is $0.91 and its 200-day moving average price is $1.37. Moleculin Biotech has a one year low of $0.40 and a one year high of $4.90.

Moleculin Biotech (NASDAQ:MBRX) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.69) EPS for the quarter, beating the consensus estimate of ($0.71) by $0.02. During the same period in the prior year, the company posted ($2.02) earnings per share. Equities analysts forecast that Moleculin Biotech will post -7.98 earnings per share for the current year.

Hedge Funds Weigh In On Moleculin Biotech

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC boosted its holdings in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) by 293.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,250,000 shares of the company’s stock after acquiring an additional 932,414 shares during the period. Armistice Capital LLC owned about 8.93% of Moleculin Biotech worth $1,217,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 15.52% of the company’s stock.

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.