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

Equities researchers at StockNews.com assumed coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a research note issued to investors on Wednesday. The firm set a “sell” rating on the stock.

Several other research firms have also recently issued reports on MBRX. Roth Mkm reaffirmed a “buy” rating and set a $40.00 price objective on shares of Moleculin Biotech in a research report on Friday, April 12th. Maxim Group decreased their price objective on shares of Moleculin Biotech from $45.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, March 26th.

Moleculin Biotech Trading Down 2.3 %

Moleculin Biotech stock opened at $3.42 on Wednesday. Moleculin Biotech has a fifty-two week low of $3.21 and a fifty-two week high of $15.75. The firm has a 50 day moving average price of $4.14 and a 200 day moving average price of $5.99.

Moleculin Biotech (NASDAQ:MBRX) last posted its quarterly earnings results on Friday, May 10th. The company reported ($2.02) EPS for the quarter, topping the consensus estimate of ($3.59) by $1.57. As a group, equities research analysts anticipate that Moleculin Biotech will post -8.79 earnings per share for the current fiscal year.

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 shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,207,417 shares of the company’s stock, valued at approximately $2,753,000. Armistice Capital LLC owned 9.60% of Moleculin Biotech as of its most recent SEC filing. 15.52% of the stock is currently owned by institutional investors and hedge funds.

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.