StockNews.com Begins Coverage on Moleculin Biotech (NASDAQ:MBRX)

StockNews.com started coverage on shares of Moleculin Biotech (NASDAQ:MBRXGet Rating) in a research note issued to investors on Thursday morning. The brokerage issued a sell rating on the stock.

A number of other research firms have also weighed in on MBRX. Oppenheimer reaffirmed an outperform rating and set a $14.00 target price on shares of Moleculin Biotech in a report on Monday, July 18th. Roth Capital decreased their price target on shares of Moleculin Biotech from $29.00 to $16.00 in a report on Tuesday, August 16th.

Moleculin Biotech Stock Performance

Shares of NASDAQ MBRX opened at $1.31 on Thursday. Moleculin Biotech has a fifty-two week low of $1.02 and a fifty-two week high of $3.11. The stock has a market cap of $37.48 million, a PE ratio of -1.82 and a beta of 1.77. The stock has a fifty day moving average of $1.61 and a 200-day moving average of $1.57.

Moleculin Biotech (NASDAQ:MBRXGet Rating) last issued its earnings results on Monday, August 15th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.01. On average, sell-side analysts predict that Moleculin Biotech will post -1.02 EPS for the current year.

Hedge Funds Weigh In On Moleculin Biotech

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp raised its position in shares of Moleculin Biotech by 19.2% during the 1st quarter. State Street Corp now owns 71,397 shares of the company’s stock valued at $127,000 after buying an additional 11,497 shares in the last quarter. Sigma Planning Corp raised its position in Moleculin Biotech by 33.7% during the first quarter. Sigma Planning Corp now owns 57,500 shares of the company’s stock valued at $102,000 after purchasing an additional 14,500 shares in the last quarter. Walker Asset Management LLC purchased a new position in shares of Moleculin Biotech in the 2nd quarter worth about $32,000. Finally, Renaissance Technologies LLC increased its position in shares of Moleculin Biotech by 79.3% during the 1st quarter. Renaissance Technologies LLC now owns 59,900 shares of the company’s stock valued at $107,000 after purchasing an additional 26,500 shares during the last quarter. Hedge funds and other institutional investors own 10.48% of the company’s stock.

Moleculin Biotech Company Profile

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Moleculin Biotech, Inc, a clinical-stage pharmaceutical company, focuses on the development of drug candidates for the treatment of highly resistant tumors and viruses. Its lead drug candidate is Annamycin that is in Phase 1/2 studies for the treatment of relapsed or refractory acute myeloid leukemia (AML) and cancers metastasized to the lungs.

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