Insider Buying: Moleculin Biotech, Inc. (NASDAQ:MBRX) CFO Acquires 270,270 Shares of Stock

Moleculin Biotech, Inc. (NASDAQ:MBRX) CFO Jonathan P. Foster bought 270,270 shares of the firm’s stock in a transaction on Monday, June 23rd. The shares were acquired at an average cost of $0.37 per share, with a total value of $99,999.90. Following the purchase, the chief financial officer now directly owns 287,587 shares of the company’s stock, valued at approximately $106,407.19. This represents a 1,560.72% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Moleculin Biotech Trading Up 2.6%

MBRX stock traded up $0.01 on Monday, hitting $0.27. The company had a trading volume of 5,501,841 shares, compared to its average volume of 1,632,690. Moleculin Biotech, Inc. has a 12-month low of $0.24 and a 12-month high of $4.71. The stock’s 50-day simple moving average is $0.88 and its 200 day simple moving average is $1.24.

Moleculin Biotech (NASDAQ:MBRX) last issued its earnings results on Tuesday, May 13th. The company reported ($0.69) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.71) by $0.02. During the same quarter in the previous year, the firm posted ($2.02) earnings per share. Research analysts expect that Moleculin Biotech, Inc. will post -7.98 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on MBRX shares. Wall Street Zen raised shares of Moleculin Biotech to a “sell” rating in a research note on Wednesday, March 26th. Maxim Group raised shares of Moleculin Biotech from a “hold” rating to a “buy” rating and set a $4.00 price target for the company in a research report on Tuesday, March 25th. Finally, HC Wainwright restated a “buy” rating and issued a $4.00 target price on shares of Moleculin Biotech in a report on Wednesday, June 18th.

Institutional Inflows and Outflows

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 293.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,250,000 shares of the company’s stock after acquiring an additional 932,414 shares during the quarter. Armistice Capital LLC owned approximately 8.93% of Moleculin Biotech worth $1,217,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors 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.