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

StockNews.com initiated coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a research note released on Sunday morning. The brokerage issued a sell rating on the stock.

Moleculin Biotech Stock Performance

Shares of NASDAQ MBRX opened at $2.55 on Friday. Moleculin Biotech has a 1-year low of $2.12 and a 1-year high of $15.75. The firm’s 50-day moving average price is $2.49 and its 200-day moving average price is $3.54.

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 Inflows and Outflows

A hedge fund recently raised its stake in Moleculin Biotech stock. Armistice Capital LLC lifted its stake in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm 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 SEC filing. 15.52% of the stock is currently owned by hedge funds and other institutional investors.

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.