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

StockNews.com began coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a research report report published on Thursday morning. The brokerage issued a sell rating on the stock.

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

Moleculin Biotech Trading Up 8.0 %

Shares of NASDAQ MBRX opened at $1.88 on Thursday. The stock has a 50 day moving average of $2.20 and a two-hundred day moving average of $2.56. Moleculin Biotech has a twelve month low of $1.50 and a twelve month high of $10.35.

Institutional Investors Weigh In On Moleculin Biotech

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC raised its holdings in Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% during the second quarter, according to its most recent 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 as of its most recent filing with the Securities and Exchange Commission. 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.