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

StockNews.com began coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a research report sent to investors on Friday morning. The firm issued a sell rating on the stock.

Moleculin Biotech Price Performance

Shares of NASDAQ MBRX opened at $2.36 on Friday. The business has a 50 day simple moving average of $2.50 and a 200 day simple moving average of $3.81. Moleculin Biotech has a 52 week low of $2.12 and a 52 week high of $15.75.

Moleculin Biotech (NASDAQ:MBRX) last posted 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 expect that Moleculin Biotech will post -8.6 earnings per share for the current year.

Hedge Funds Weigh In On Moleculin Biotech

A hedge fund recently raised its stake in Moleculin Biotech stock. Armistice Capital LLC boosted its holdings in Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & 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 approximately 6.75% of Moleculin Biotech worth $549,000 as of its most recent SEC filing. Institutional investors and hedge funds own 15.52% of the company’s 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.