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

Analysts at StockNews.com assumed coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a report released on Monday. The brokerage set a “sell” rating on the stock.

Moleculin Biotech Stock Down 3.1 %

Shares of NASDAQ MBRX opened at $2.47 on Monday. Moleculin Biotech has a 12-month low of $2.12 and a 12-month high of $15.75. The company has a 50-day moving average of $3.11 and a 200 day moving average of $4.84.

Institutional Investors Weigh In On Moleculin Biotech

An institutional investor recently raised its position 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. 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 6.75% of Moleculin Biotech worth $549,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds 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.