Moleculin Biotech (NASDAQ:MBRX) Now Covered by Analysts at StockNews.com

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

Several other brokerages have also weighed in on MBRX. Maxim Group cut their price objective on shares of Moleculin Biotech from $45.00 to $20.00 and set a buy rating on the stock in a research report on Tuesday, March 26th. Roth Mkm reaffirmed a buy rating and issued a $40.00 price objective on shares of Moleculin Biotech in a research note on Friday, April 12th.

Moleculin Biotech Stock Performance

Moleculin Biotech stock opened at $3.63 on Friday. Moleculin Biotech has a 12 month low of $3.35 and a 12 month high of $15.75. The company’s fifty day simple moving average is $4.47 and its 200-day simple moving average is $6.81.

Moleculin Biotech (NASDAQ:MBRX) last issued its earnings results on Friday, May 10th. The company reported ($2.02) earnings per share for the quarter, topping the consensus estimate of ($3.59) by $1.57. On average, analysts forecast that Moleculin Biotech will post -8.79 EPS for the current year.

Hedge Funds Weigh In On Moleculin Biotech

A hedge fund recently bought a new stake in Moleculin Biotech stock. Atticus Wealth Management LLC bought a new position in Moleculin Biotech, Inc. (NASDAQ:MBRX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 50,001 shares of the company’s stock, valued at approximately $43,000. Atticus Wealth Management LLC owned 0.17% of Moleculin Biotech at the end of the most recent reporting period. 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.