Moleculin Biotech, Inc. (NASDAQ:MBRX) Short Interest Up 108.6% in August

Moleculin Biotech, Inc. (NASDAQ:MBRX) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 107,000 shares, an increase of 108.6% from the August 15th total of 51,300 shares. Based on an average daily volume of 32,000 shares, the short-interest ratio is presently 3.3 days. Currently, 3.9% of the shares of the company are sold short.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on Moleculin Biotech in a report on Tuesday, September 10th. They issued a “sell” rating for the company.

Moleculin Biotech Stock Performance

Moleculin Biotech stock remained flat at $2.43 during mid-day trading on Friday. 15,437 shares of the company were exchanged, compared to its average volume of 29,181. The stock has a 50-day moving average of $2.90 and a two-hundred day moving average of $4.51. Moleculin Biotech has a fifty-two week low of $2.12 and a fifty-two week high of $15.75.

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC grew its holdings in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 156,000 shares of the company’s stock after acquiring an additional 7,505 shares during the quarter. Armistice Capital LLC owned about 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 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.