Moleculin Biotech, Inc. (NASDAQ:MBRX) Short Interest Down 57.1% in March

Moleculin Biotech, Inc. (NASDAQ:MBRX) was the target of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 463,600 shares, a decline of 57.1% from the February 28th total of 1,080,000 shares. Based on an average trading volume of 5,330,000 shares, the days-to-cover ratio is currently 0.1 days. Currently, 3.3% of the shares of the company are sold short.

Analyst Ratings Changes

MBRX has been the topic of several research reports. StockNews.com raised Moleculin Biotech to a “sell” rating in a research report on Wednesday. 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 report on Tuesday, March 25th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price target on shares of Moleculin Biotech in a report on Monday, March 24th.

Moleculin Biotech Price Performance

Shares of NASDAQ MBRX opened at $1.04 on Friday. Moleculin Biotech has a 12-month low of $0.40 and a 12-month high of $6.09. The stock’s 50 day simple moving average is $1.29 and its 200 day simple moving average is $1.97.

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.