Moleculin Biotech Stock Set to Reverse Split on Tuesday, October 20th (NASDAQ:MBRX)

Moleculin Biotech, Inc. (NASDAQ:MBRX) shares are going to reverse split on Tuesday, October 20th. The 1-20 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, October 19th.

Moleculin Biotech Price Performance

Shares of NASDAQ:MBRX traded down $0.09 during trading on Friday, reaching $0.28. The company had a trading volume of 1,180,292 shares, compared to its average volume of 1,120,588. The company has a fifty day moving average of $0.58 and a two-hundred day moving average of $1.71. Moleculin Biotech has a 12 month low of $0.16 and a 12 month high of $15.75.

Moleculin Biotech (NASDAQ:MBRX) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($1.40) earnings per share for the quarter, beating the consensus estimate of ($1.55) by $0.15. On average, equities research analysts anticipate that Moleculin Biotech will post -2.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MBRX has been the topic of a number of research reports. Wall Street Zen upgraded Moleculin Biotech from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Moleculin Biotech in a report on Thursday. Finally, HC Wainwright reduced their price objective on Moleculin Biotech to $3.00 and set a “buy” rating on the stock in a research report on Friday, August 28th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Moleculin Biotech currently has a consensus rating of “Hold” and a consensus price target of $3.00.

Moleculin Biotech Company Profile

Moleculin Biotech, Inc is a clinical-stage pharmaceutical company focused on developing treatments for cancer and other serious diseases. Its research programs are based on compounds designed to target biological mechanisms involved in tumor growth, drug resistance and immune-system regulation.

The company’s lead program is annamycins, including L-annamycin, an anthracycline designed to retain anticancer activity while reducing some limitations associated with conventional anthracyclines, particularly damage to the heart.