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

Equities researchers at StockNews.com initiated coverage on shares of Moleculin Biotech (NASDAQ:MBRXGet Rating) in a research report issued to clients and investors on Friday. The brokerage set a “sell” rating on the stock.

A number of other research analysts also recently weighed in on MBRX. Roth Capital decreased their price target on Moleculin Biotech from $29.00 to $16.00 in a research note on Tuesday, August 16th. Oppenheimer restated an “outperform” rating and issued a $14.00 price target on shares of Moleculin Biotech in a research note on Monday, July 18th.

Moleculin Biotech Stock Up 0.9 %

MBRX stock opened at $1.18 on Friday. The business has a 50 day moving average price of $1.58 and a two-hundred day moving average price of $1.56. The company has a market cap of $33.76 million, a price-to-earnings ratio of -1.64 and a beta of 1.77. Moleculin Biotech has a twelve month low of $1.02 and a twelve month high of $3.08.

Moleculin Biotech (NASDAQ:MBRXGet Rating) last posted its quarterly earnings results on Monday, August 15th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.01. On average, equities research analysts anticipate that Moleculin Biotech will post -1.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC boosted its stake in shares of Moleculin Biotech by 47.1% during the 2nd quarter. Renaissance Technologies LLC now owns 88,100 shares of the company’s stock worth $128,000 after acquiring an additional 28,200 shares during the period. State Street Corp boosted its stake in shares of Moleculin Biotech by 19.2% during the 1st quarter. State Street Corp now owns 71,397 shares of the company’s stock worth $127,000 after acquiring an additional 11,497 shares during the period. Sigma Planning Corp boosted its stake in Moleculin Biotech by 33.7% in the 1st quarter. Sigma Planning Corp now owns 57,500 shares of the company’s stock valued at $102,000 after purchasing an additional 14,500 shares during the period. Finally, Walker Asset Management LLC bought a new stake in Moleculin Biotech in the 2nd quarter valued at $32,000. 10.48% of the stock is currently owned by institutional investors.

About Moleculin Biotech

(Get Rating)

Moleculin Biotech, Inc, a clinical-stage pharmaceutical company, focuses on the development of drug candidates for the treatment of highly resistant tumors and viruses. Its lead drug candidate is Annamycin that is in Phase 1/2 studies for the treatment of relapsed or refractory acute myeloid leukemia (AML) and cancers metastasized to the lungs.

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