StockNews.com Initiates Coverage on Moleculin Biotech (NASDAQ:MBRX)

StockNews.com started coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a research report issued to clients and investors on Monday. The firm set a “sell” rating on the stock.

Several other analysts also recently issued reports on the stock. Maxim Group reduced their price target on shares of Moleculin Biotech from $45.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, March 26th. Roth Mkm reaffirmed a “buy” rating and issued a $40.00 price target on shares of Moleculin Biotech in a report on Friday, April 12th.

Moleculin Biotech Trading Down 2.8 %

Shares of Moleculin Biotech stock opened at $3.25 on Monday. The company’s 50-day simple moving average is $4.40 and its 200-day simple moving average is $6.64. Moleculin Biotech has a 52-week low of $3.21 and a 52-week high of $15.75.

Moleculin Biotech (NASDAQ:MBRX) last issued its earnings results on Friday, May 10th. The company reported ($2.02) earnings per share for the quarter, topping the consensus estimate of ($3.59) by $1.57. Equities analysts expect that Moleculin Biotech will post -8.79 EPS for the current year.

Hedge Funds Weigh In On Moleculin Biotech

A hedge fund recently bought a new stake in Moleculin Biotech stock. Atticus Wealth Management LLC acquired a new stake in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 50,001 shares of the company’s stock, valued at approximately $43,000. Atticus Wealth Management LLC owned 0.17% of Moleculin Biotech as of its most recent filing with the Securities & Exchange Commission. Institutional investors 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.