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

Equities researchers at StockNews.com began coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a research note issued on Friday. The brokerage set a “sell” rating on the stock.

Moleculin Biotech Stock Down 4.1 %

NASDAQ MBRX opened at $2.36 on Friday. Moleculin Biotech has a one year low of $2.12 and a one year high of $15.75. The stock’s 50-day moving average is $2.50 and its 200-day moving average is $3.83.

Moleculin Biotech (NASDAQ:MBRX) last announced its earnings results on Tuesday, August 13th. The company reported ($2.23) EPS for the quarter, missing the consensus estimate of ($2.10) by ($0.13). On average, equities research analysts forecast that Moleculin Biotech will post -8.6 EPS 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 lifted its position 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 (SEC). The firm owned 156,000 shares of the company’s stock after buying an additional 7,505 shares during the period. Armistice Capital LLC owned about 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.