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

Analysts at StockNews.com started coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a research note issued on Tuesday. The firm set a “sell” rating on the stock.

Moleculin Biotech Stock Performance

Shares of MBRX opened at $2.36 on Tuesday. Moleculin Biotech has a 12 month low of $2.12 and a 12 month high of $15.75. The stock has a fifty day moving average price of $2.50 and a 200 day moving average price of $3.39.

Moleculin Biotech (NASDAQ:MBRX) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($2.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.10) by ($0.13). On average, equities analysts forecast that Moleculin Biotech will post -8.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Moleculin Biotech stock. Armistice Capital LLC lifted 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 Securities and Exchange Commission (SEC). The firm owned 156,000 shares of the company’s stock after acquiring an additional 7,505 shares during the quarter. 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 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.