Moleculin Biotech (NASDAQ:MBRX) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com initiated coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a research note issued to investors on Tuesday. The brokerage set a “sell” rating on the stock.

Separately, Maxim Group cut their target price on shares of Moleculin Biotech from $20.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th.

Moleculin Biotech Price Performance

NASDAQ:MBRX opened at $1.70 on Tuesday. The business’s fifty day moving average price is $2.38 and its 200 day moving average price is $2.73. Moleculin Biotech has a 1-year low of $1.50 and a 1-year high of $15.75.

Hedge Funds Weigh In On Moleculin Biotech

A hedge fund recently raised its stake in Moleculin Biotech stock. Armistice Capital LLC raised its stake in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 156,000 shares of the company’s stock after purchasing an additional 7,505 shares during the quarter. Armistice Capital LLC owned 6.75% of Moleculin Biotech worth $549,000 as of its most recent filing with the SEC. 15.52% of the stock is owned by hedge funds and other institutional investors.

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.