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

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

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

Moleculin Biotech Stock Performance

NASDAQ:MBRX opened at $2.73 on Thursday. Moleculin Biotech has a 52 week low of $2.12 and a 52 week high of $15.75. The stock’s 50-day moving average price is $2.55 and its 200-day moving average price is $3.22.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Moleculin Biotech stock. Armistice Capital LLC boosted its position in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 156,000 shares of the company’s stock after buying an additional 7,505 shares during the period. Armistice Capital LLC owned 6.75% of Moleculin Biotech worth $549,000 at the end of the most recent quarter. Hedge funds and other 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.