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

StockNews.com initiated coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a research report report published on Friday. The brokerage issued a sell rating on the stock.

Separately, Maxim Group reduced 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 Price Performance

Shares of MBRX opened at $1.70 on Friday. Moleculin Biotech has a 52 week low of $1.50 and a 52 week high of $10.35. The stock has a 50 day moving average price of $2.11 and a two-hundred day moving average price of $2.51.

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 second quarter, according to its most recent filing with the Securities and Exchange Commission. 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 approximately 6.75% of Moleculin Biotech worth $549,000 at the end of the most recent quarter. 15.52% of the stock is owned by institutional investors and hedge funds.

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.