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

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

Separately, Maxim Group dropped their target price on shares of Moleculin Biotech from $20.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, November 12th.

Moleculin Biotech Stock Down 0.6 %

Shares of NASDAQ:MBRX opened at $1.78 on Wednesday. Moleculin Biotech has a 1-year low of $1.50 and a 1-year high of $11.69. The firm’s 50 day simple moving average is $2.30 and its two-hundred day simple moving average is $2.65.

Hedge Funds Weigh In On Moleculin Biotech

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC lifted its holdings in Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 156,000 shares of the company’s stock after acquiring an additional 7,505 shares during the period. Armistice Capital LLC owned 6.75% of Moleculin Biotech worth $549,000 at the end of the most recent quarter. 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.