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

Investment analysts at StockNews.com assumed coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a research note issued on Thursday. The brokerage set a “sell” rating on the stock.

Moleculin Biotech Trading Up 12.7 %

Shares of MBRX opened at $2.75 on Thursday. The stock has a 50-day moving average price of $2.63 and a 200-day moving average price of $4.09. Moleculin Biotech has a 12-month low of $2.12 and a 12-month high of $15.75.

Moleculin Biotech (NASDAQ:MBRX) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($2.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.10) by ($0.13). As a group, research analysts expect that Moleculin Biotech will post -8.6 earnings per share for the current year.

Institutional Trading of Moleculin Biotech

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% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 156,000 shares of the company’s stock after purchasing an additional 7,505 shares during the period. Armistice Capital LLC owned about 6.75% of Moleculin Biotech worth $549,000 at the end of the most recent reporting period. 15.52% of the stock is owned by hedge funds and other institutional investors.

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.