Short Interest in Moleculin Biotech, Inc. (NASDAQ:MBRX) Increases By 17.0%

Moleculin Biotech, Inc. (NASDAQ:MBRX) was the recipient of a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 125,200 shares, an increase of 17.0% from the August 31st total of 107,000 shares. Approximately 4.6% of the shares of the company are sold short. Based on an average trading volume of 37,100 shares, the days-to-cover ratio is currently 3.4 days.

Hedge Funds Weigh In On Moleculin Biotech

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC boosted its stake in Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,000 shares of the company’s stock after acquiring 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. 15.52% of the stock is owned by institutional investors and hedge funds.

Moleculin Biotech Trading Down 2.9 %

Shares of MBRX stock traded down $0.08 during trading hours on Monday, reaching $2.67. The company’s stock had a trading volume of 12,495 shares, compared to its average volume of 31,336. Moleculin Biotech has a fifty-two week low of $2.12 and a fifty-two week high of $15.75. The firm’s 50 day simple moving average is $2.60 and its 200-day simple moving average is $3.98.

Moleculin Biotech (NASDAQ:MBRX) last issued its earnings results on Tuesday, August 13th. The company reported ($2.23) EPS for the quarter, missing the consensus estimate of ($2.10) by ($0.13). Equities analysts predict that Moleculin Biotech will post -8.6 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Moleculin Biotech in a report on Thursday. They set a “sell” rating for the company.

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.