Moleculin Biotech (NASDAQ:MBRX) Receives New Coverage from Analysts at StockNews.com

StockNews.com began coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a research report released on Monday morning. The brokerage issued a sell rating on the stock.

MBRX has been the topic of a number of other reports. Maxim Group reduced their price objective on shares of Moleculin Biotech from $45.00 to $20.00 and set a buy rating on the stock in a research report on Tuesday, March 26th. Roth Mkm reiterated a buy rating and issued a $40.00 target price on shares of Moleculin Biotech in a research note on Friday, April 12th.

Moleculin Biotech Trading Up 8.2 %

MBRX opened at $5.01 on Monday. The stock has a 50-day moving average of $6.64 and a 200 day moving average of $8.02. Moleculin Biotech has a 12 month low of $4.28 and a 12 month high of $15.75.

Institutional Investors Weigh In On Moleculin Biotech

An institutional investor recently bought a new position in Moleculin Biotech stock. Armistice Capital LLC purchased a new position in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,207,417 shares of the company’s stock, valued at approximately $2,753,000. Armistice Capital LLC owned approximately 9.60% of Moleculin Biotech as of its most recent filing with the Securities and Exchange Commission (SEC). 15.52% of the stock is owned by hedge funds and other institutional investors.

Moleculin Biotech Company Profile

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.