Short Interest in Moleculin Biotech, Inc. (NASDAQ:MBRX) Increases By 108.6%

Moleculin Biotech, Inc. (NASDAQ:MBRX) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 107,000 shares, a growth of 108.6% from the August 15th total of 51,300 shares. Based on an average daily volume of 32,000 shares, the days-to-cover ratio is currently 3.3 days. Approximately 3.9% of the company’s stock are short sold.

Institutional Investors Weigh In On Moleculin Biotech

An institutional investor recently bought a new position in Moleculin Biotech stock. Armistice Capital LLC purchased a new position in Moleculin Biotech, Inc. (NASDAQ:MBRX) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 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 as of its most recent filing with the Securities and Exchange Commission. 15.52% of the stock is owned by hedge funds and other institutional investors.

Moleculin Biotech Price Performance

Shares of NASDAQ:MBRX remained flat at $2.43 during mid-day trading on Friday. The company had a trading volume of 15,437 shares, compared to its average volume of 29,181. The firm’s 50-day moving average price is $2.90 and its 200-day moving average price is $4.51. Moleculin Biotech has a one year low of $2.12 and a one year high of $15.75.

Moleculin Biotech (NASDAQ:MBRX) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($2.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.10) by ($0.13). As a group, equities research analysts expect that Moleculin Biotech will post -8.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of Moleculin Biotech in a research note on Tuesday, September 10th. They issued a “sell” rating on the stock.

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.