Moleculin Biotech (NASDAQ:MBRX) Earns Sell Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a research note released on Thursday. The firm issued a sell rating on the stock.

Separately, Maxim Group reduced their price objective on Moleculin Biotech from $20.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th.

Moleculin Biotech Stock Performance

NASDAQ MBRX opened at $1.74 on Thursday. The business has a fifty day moving average price of $2.22 and a two-hundred day moving average price of $2.58. Moleculin Biotech has a fifty-two week low of $1.50 and a fifty-two week high of $10.35.

Institutional Trading of Moleculin Biotech

A hedge fund recently raised its stake in Moleculin Biotech stock. Armistice Capital LLC grew its position in Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% in the second quarter, according to its most recent 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 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.

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.