Moleculin Biotech (NASDAQ:MBRX) Earns Sell Rating from Analysts at StockNews.com

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

Separately, Maxim Group cut their target price on shares of Moleculin Biotech from $20.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th.

Moleculin Biotech Stock Performance

MBRX stock opened at $2.77 on Friday. Moleculin Biotech has a 52-week low of $2.12 and a 52-week high of $15.75. The company’s 50 day simple moving average is $2.57 and its 200-day simple moving average is $3.12.

Institutional Trading of Moleculin Biotech

A hedge fund recently raised its stake in Moleculin Biotech stock. Armistice Capital LLC boosted its stake in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 156,000 shares of the company’s stock after purchasing an additional 7,505 shares during the period. Armistice Capital LLC owned about 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 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.