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

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

Several other brokerages also recently weighed in on MBRX. Maxim Group decreased their target price on Moleculin Biotech from $45.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, March 26th. HC Wainwright reaffirmed a “buy” rating and issued a $45.00 target price on shares of Moleculin Biotech in a research report on Thursday, December 14th.

Moleculin Biotech Trading Down 1.9 %

MBRX stock opened at $5.20 on Friday. The stock has a 50-day moving average price of $7.59 and a two-hundred day moving average price of $8.21. Moleculin Biotech has a 12-month low of $4.34 and a 12-month high of $24.75. The company has a market cap of $11.60 million, a PE ratio of -0.38 and a beta of 1.95.

Institutional Trading of Moleculin Biotech

Large investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC boosted its stake in Moleculin Biotech by 47.1% during the 2nd quarter. Renaissance Technologies LLC now owns 88,100 shares of the company’s stock valued at $128,000 after purchasing an additional 28,200 shares in the last quarter. State Street Corp boosted its stake in Moleculin Biotech by 19.2% during the 1st quarter. State Street Corp now owns 71,397 shares of the company’s stock valued at $127,000 after purchasing an additional 11,497 shares in the last quarter. Citadel Advisors LLC bought a new position in Moleculin Biotech during the 4th quarter valued at $55,000. Charles Schwab Investment Management Inc. bought a new position in Moleculin Biotech during the 4th quarter valued at $39,000. Finally, Armistice Capital LLC bought a new position in Moleculin Biotech during the 4th quarter valued at $2,753,000. 15.52% of the stock is currently owned by institutional investors and hedge funds.

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 1/2 studies for the treatment of relapsed or refractory acute myeloid leukemia (AML) and cancers metastasized to the lungs.