Moleculin Biotech (NASDAQ:MBRX) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a research note issued to investors on Monday morning. The firm issued a sell rating on the stock.

Moleculin Biotech Stock Performance

Moleculin Biotech stock opened at $2.41 on Monday. The stock’s fifty day moving average is $3.09 and its two-hundred day moving average is $4.80. Moleculin Biotech has a 1-year low of $2.12 and a 1-year high of $15.75.

Moleculin Biotech (NASDAQ:MBRX) last issued its earnings results on Tuesday, August 13th. The company reported ($2.23) earnings per share for the quarter, missing the consensus estimate of ($2.10) by ($0.13). As a group, 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 boosted its stake in Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). 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 about 6.75% of Moleculin Biotech worth $549,000 as of its most recent SEC filing. Institutional investors and hedge funds own 15.52% of the company’s stock.

Moleculin Biotech Company Profile

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.