Short Interest in Moleculin Biotech, Inc. (NASDAQ:MBRX) Decreases By 61.7%

Moleculin Biotech, Inc. (NASDAQ:MBRX) was the target of a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 20,700 shares, a drop of 61.7% from the November 15th total of 54,100 shares. Approximately 0.7% of the shares of the company are short sold. Based on an average daily trading volume, of 41,300 shares, the short-interest ratio is currently 0.5 days.

Moleculin Biotech Price Performance

Shares of NASDAQ:MBRX traded down $0.14 during midday trading on Friday, reaching $2.32. 47,730 shares of the company’s stock were exchanged, compared to its average volume of 34,052. The company’s 50 day simple moving average is $2.56 and its two-hundred day simple moving average is $2.98. Moleculin Biotech has a 12 month low of $2.12 and a 12 month high of $15.75.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC lifted its stake in Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 156,000 shares of the company’s stock after buying an additional 7,505 shares during the period. Armistice Capital LLC owned about 6.75% of Moleculin Biotech worth $549,000 at the end of the most recent reporting period. 15.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MBRX shares. StockNews.com assumed coverage on Moleculin Biotech in a research note on Saturday, December 7th. They set a “sell” rating on the stock. Maxim Group decreased their price objective on Moleculin Biotech from $20.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th.

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.