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

StockNews.com assumed coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a report published on Saturday. The firm issued a sell rating on the stock.

Moleculin Biotech Stock Performance

Shares of NASDAQ MBRX opened at $2.44 on Friday. Moleculin Biotech has a 52 week low of $2.12 and a 52 week high of $15.75. The stock’s fifty day moving average is $2.46 and its 200 day moving average is $3.71.

Moleculin Biotech (NASDAQ:MBRX) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($2.23) EPS for the quarter, missing analysts’ consensus estimates of ($2.10) by ($0.13). On average, analysts predict that Moleculin Biotech will post -8.6 earnings per share for the current fiscal year.

Institutional Trading of Moleculin Biotech

A hedge fund recently raised its stake in Moleculin Biotech stock. Armistice Capital LLC boosted its holdings in Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 156,000 shares of the company’s stock after buying an additional 7,505 shares during the quarter. Armistice Capital LLC owned approximately 6.75% of Moleculin Biotech worth $549,000 at the end of the most recent reporting period. Institutional investors own 15.52% of the company’s stock.

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.