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

StockNews.com initiated coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a research report released on Monday morning. The firm 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 note on Tuesday, November 12th.

Moleculin Biotech Trading Up 5.2 %

Shares of MBRX opened at $1.82 on Monday. Moleculin Biotech has a 52-week low of $1.50 and a 52-week high of $15.75. The firm has a 50-day moving average price of $2.47 and a 200 day moving average price of $2.82.

Institutional Inflows and Outflows

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 the company in its most recent disclosure with the SEC. The fund owned 156,000 shares of the company’s stock after buying 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 SEC filing. 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.