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

StockNews.com began coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a note issued to investors on Friday. The firm set a “sell” rating on the stock.

Moleculin Biotech Stock Down 4.1 %

NASDAQ:MBRX opened at $2.36 on Friday. The stock’s 50-day simple moving average is $2.50 and its 200 day simple moving average is $3.83. Moleculin Biotech has a 52-week low of $2.12 and a 52-week high of $15.75.

Moleculin Biotech (NASDAQ:MBRX) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($2.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.10) by ($0.13). On average, analysts expect that Moleculin Biotech will post -8.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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

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.