Moleculin Biotech (NASDAQ:MBRX) Shares Cross Below 50 Day Moving Average – Should You Sell?

Moleculin Biotech, Inc. (NASDAQ:MBRX) shares crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $2.54 and traded as low as $2.09. Moleculin Biotech shares last traded at $2.19, with a volume of 110,270 shares traded.

Analysts Set New Price Targets

MBRX has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Moleculin Biotech in a research report on Friday, July 17th. Wall Street Zen cut shares of Moleculin Biotech from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $22.00.

Moleculin Biotech Trading Up 3.3%

The company has a market cap of $11.69 million, a P/E ratio of -0.12 and a beta of 1.75. The business has a 50 day moving average price of $2.54 and a 200-day moving average price of $2.84.

Moleculin Biotech (NASDAQ:MBRX) last released its earnings results on Thursday, May 14th. The company reported ($3.54) earnings per share for the quarter, missing the consensus estimate of ($2.33) by ($1.21). On average, sell-side analysts expect that Moleculin Biotech, Inc. will post -5.1 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Moleculin Biotech stock. Jane Street Group LLC acquired a new position in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 22,550 shares of the company’s stock, valued at approximately $75,000. Jane Street Group LLC owned about 1.11% of Moleculin Biotech at the end of the most recent reporting period. 15.52% of the stock is currently owned by hedge funds and other institutional investors.

About Moleculin Biotech

Moleculin Biotech, Inc is a clinical-stage pharmaceutical company focused on the development of novel therapies for the treatment of highly resistant tumors and viral infections. The company’s research platform centers on the design and synthesis of drug candidates that target key cellular pathways in cancer cells and viral replication processes. By leveraging a proprietary chemistry approach, Moleculin aims to address diseases that have limited therapeutic options and high unmet medical need.

The company’s pipeline includes multiple product candidates at various stages of development.