Moleculin Biotech (NASDAQ:MBRX) Coverage Initiated at StockNews.com

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

Moleculin Biotech Stock Performance

NASDAQ MBRX opened at $2.75 on Thursday. Moleculin Biotech has a twelve month low of $2.12 and a twelve month high of $15.75. The stock’s 50 day moving average is $2.63 and its 200 day moving average is $4.09.

Moleculin Biotech (NASDAQ:MBRX) last released 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). As a group, equities analysts predict 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 boosted its position in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. 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 6.75% of Moleculin Biotech worth $549,000 at the end of the most recent reporting period. 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.