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

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

Moleculin Biotech Price Performance

Shares of Moleculin Biotech stock opened at $2.55 on Friday. The business’s fifty day simple moving average is $2.49 and its 200-day simple moving average is $3.54. Moleculin Biotech has a 52 week low of $2.12 and a 52 week high of $15.75.

Moleculin Biotech (NASDAQ:MBRX) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($2.23) EPS for the quarter, missing the consensus estimate of ($2.10) by ($0.13). As a group, sell-side analysts expect 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 its most recent filing with the SEC. The firm 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 as of its most recent SEC filing. Hedge funds and other institutional investors own 15.52% of the company’s stock.

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.