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

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

Separately, Maxim Group lowered their price objective 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 Stock Performance

MBRX opened at $2.73 on Thursday. The firm’s 50-day moving average price is $2.55 and its 200-day moving average price is $3.22. Moleculin Biotech has a 52-week low of $2.12 and a 52-week high of $15.75.

Institutional Investors Weigh In On Moleculin Biotech

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC raised its holdings in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 156,000 shares of the company’s stock after acquiring 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 owned by hedge funds and other institutional investors.

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.