Moleculin Biotech (NASDAQ:MBRX) Stock Passes Below 50 Day Moving Average of $3.45

Shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $3.45 and traded as low as $2.17. Moleculin Biotech shares last traded at $2.44, with a volume of 77,274 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Moleculin Biotech in a research note on Saturday. They set a “sell” rating on the stock.

Moleculin Biotech Stock Up 9.4 %

The stock has a fifty day moving average of $3.45 and a 200-day moving average of $5.26.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Moleculin Biotech stock. Armistice Capital LLC bought a new stake in Moleculin Biotech, Inc. (NASDAQ:MBRX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,207,417 shares of the company’s stock, valued at approximately $2,753,000. Armistice Capital LLC owned about 9.60% of Moleculin Biotech 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.