Moleculin Biotech (NASDAQ:MBRX) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a research report released on Friday. The brokerage issued a sell rating on the stock.

Separately, Maxim Group decreased their target price on shares of Moleculin Biotech from $20.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th.

Moleculin Biotech Trading Down 3.4 %

Shares of MBRX opened at $1.70 on Friday. Moleculin Biotech has a twelve month low of $1.50 and a twelve month high of $10.35. The business’s 50-day moving average price is $2.11 and its 200-day moving average price is $2.50.

Hedge Funds Weigh In On Moleculin Biotech

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