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

StockNews.com assumed 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 reduced 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 report on Tuesday, November 12th.

Moleculin Biotech Stock Performance

NASDAQ MBRX opened at $2.77 on Friday. Moleculin Biotech has a 12 month low of $2.12 and a 12 month high of $15.75. The company’s 50-day moving average price is $2.57 and its 200-day moving average price is $3.15.

Institutional Trading of 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% during the second quarter, according to its most recent filing with the SEC. The firm owned 156,000 shares of the company’s stock after purchasing 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 reporting period. Institutional investors and hedge funds 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.