Moleculin Biotech (NASDAQ:MBRX) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a research report sent to investors on Thursday morning. The firm issued a sell rating on the stock.

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

Moleculin Biotech Trading Up 4.0 %

Shares of NASDAQ MBRX opened at $2.78 on Thursday. The stock has a fifty day moving average of $2.54 and a 200-day moving average of $3.24. Moleculin Biotech has a fifty-two week low of $2.12 and a fifty-two week high of $15.75.

Institutional Investors Weigh In On Moleculin Biotech

A hedge fund recently raised its stake in Moleculin Biotech stock. Armistice Capital LLC lifted its holdings in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 156,000 shares of the company’s stock after purchasing an additional 7,505 shares during the quarter. Armistice Capital LLC owned 6.75% of Moleculin Biotech worth $549,000 at the end of the most recent quarter. 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.