Moleculin Biotech (NASDAQ:MBRX) Receives New Coverage from Analysts at StockNews.com

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

Moleculin Biotech Price Performance

Shares of NASDAQ MBRX opened at $2.47 on Tuesday. The company’s fifty day simple moving average is $2.90 and its 200 day simple moving average is $4.55. Moleculin Biotech has a 12-month low of $2.12 and a 12-month high of $15.75.

Moleculin Biotech (NASDAQ:MBRX) last issued its earnings results on Tuesday, August 13th. The company reported ($2.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.10) by ($0.13). As a group, sell-side analysts forecast that Moleculin Biotech will post -8.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Moleculin Biotech

A hedge fund recently raised its stake in Moleculin Biotech stock. Armistice Capital LLC grew its holdings in Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 156,000 shares of the company’s stock after purchasing an additional 7,505 shares during the period. 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 currently 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.