Moleculin Biotech, Inc. (NASDAQ:MBRX) Short Interest Down 98.4% in March

Moleculin Biotech, Inc. (NASDAQ:MBRX) was the recipient of a significant decline in short interest in March. As of March 15th, there was short interest totalling 2,100 shares, a decline of 98.4% from the February 29th total of 134,400 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 28,800 shares, the days-to-cover ratio is currently 0.1 days.

Moleculin Biotech Price Performance

NASDAQ MBRX traded up $0.37 during trading on Thursday, hitting $5.91. The company’s stock had a trading volume of 77,998 shares, compared to its average volume of 31,255. The business’s 50 day simple moving average is $7.88 and its 200-day simple moving average is $8.23. The company has a market cap of $13.18 million, a PE ratio of -0.44 and a beta of 1.98. Moleculin Biotech has a fifty-two week low of $4.34 and a fifty-two week high of $24.75.

Hedge Funds Weigh In On Moleculin Biotech

Institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. acquired a new position in Moleculin Biotech during the 4th quarter worth $39,000. Atticus Wealth Management LLC acquired a new position in Moleculin Biotech in the fourth quarter valued at $43,000. Citadel Advisors LLC acquired a new position in Moleculin Biotech during the fourth quarter worth approximately $55,000. Renaissance Technologies LLC raised its holdings in shares of Moleculin Biotech by 34.7% in the second quarter. Renaissance Technologies LLC now owns 127,400 shares of the company’s stock valued at $74,000 after buying an additional 32,795 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Moleculin Biotech by 19.2% during the first quarter. State Street Corp now owns 71,397 shares of the company’s stock worth $127,000 after purchasing an additional 11,497 shares during the period. 15.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MBRX has been the subject of a number of research reports. StockNews.com began coverage on Moleculin Biotech in a report on Thursday. They set a “sell” rating for the company. Maxim Group lowered their target price on Moleculin Biotech from $45.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, HC Wainwright restated a “buy” rating and issued a $45.00 price objective on shares of Moleculin Biotech in a research report on Thursday, December 14th.

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 1/2 studies for the treatment of relapsed or refractory acute myeloid leukemia (AML) and cancers metastasized to the lungs.