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

Stock analysts at StockNews.com initiated 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.

Separately, Maxim Group lowered 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 note on Tuesday, November 12th.

Moleculin Biotech Trading Down 0.6 %

Shares of NASDAQ MBRX opened at $1.78 on Wednesday. The company has a 50-day simple moving average of $2.28 and a 200-day simple moving average of $2.65. Moleculin Biotech has a 12 month low of $1.50 and a 12 month high of $11.69.

Institutional Trading of Moleculin Biotech

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC increased 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 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 approximately 6.75% of Moleculin Biotech worth $549,000 as of its most recent SEC filing. 15.52% of the stock is owned by 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.