Moleculin Biotech (NASDAQ:MBRX) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a research note released on Saturday. The firm issued a sell rating on the stock.

Moleculin Biotech Stock Performance

Shares of MBRX opened at $2.40 on Friday. The company’s fifty day moving average is $3.41 and its 200 day moving average is $5.20. Moleculin Biotech has a fifty-two week low of $2.12 and a fifty-two week high of $15.75.

Institutional Investors Weigh In On Moleculin Biotech

An institutional investor recently bought a new position in Moleculin Biotech stock. Armistice Capital LLC acquired a new stake in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,207,417 shares of the company’s stock, valued at approximately $2,753,000. Armistice Capital LLC owned about 9.60% of Moleculin Biotech as of its most recent SEC filing. Hedge funds and other institutional investors own 15.52% of the company’s stock.

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.