Short Interest in Moleculin Biotech, Inc. (NASDAQ:MBRX) Expands By 65.7%

Moleculin Biotech, Inc. (NASDAQ:MBRX) was the recipient of a large increase in short interest in December. As of December 15th, there was short interest totalling 34,300 shares, an increase of 65.7% from the November 30th total of 20,700 shares. Currently, 1.1% of the shares of the company are short sold. Based on an average daily trading volume, of 48,400 shares, the days-to-cover ratio is presently 0.7 days.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on MBRX shares. Maxim Group reduced their target price on Moleculin Biotech from $20.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. StockNews.com began coverage on shares of Moleculin Biotech in a research note on Monday. They issued a “sell” rating on the stock.

Hedge Funds Weigh In On Moleculin Biotech

A hedge fund recently raised its stake in Moleculin Biotech stock. Armistice Capital LLC increased its holdings in Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 as of its most recent SEC filing. 15.52% of the stock is owned by hedge funds and other institutional investors.

Moleculin Biotech Stock Down 6.8 %

Shares of MBRX stock traded down $0.12 on Friday, hitting $1.65. 46,606 shares of the stock were exchanged, compared to its average volume of 35,869. The firm’s 50 day moving average is $2.45 and its two-hundred day moving average is $2.81. Moleculin Biotech has a one year low of $1.50 and a one year high of $15.75.

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.