Moleculin Biotech, Inc. (NASDAQ:MBRX) Short Interest Update

Moleculin Biotech, Inc. (NASDAQ:MBRX) saw a large growth in short interest during the month of May. As of May 15th, there was short interest totalling 981,900 shares, a growth of 35.4% from the April 30th total of 725,100 shares. Based on an average daily trading volume, of 1,370,000 shares, the short-interest ratio is presently 0.7 days. Currently, 7.0% of the company’s stock are sold short.

Institutional Trading of Moleculin Biotech

A hedge fund recently raised its stake in Moleculin Biotech stock. Armistice Capital LLC raised its holdings in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) by 293.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,250,000 shares of the company’s stock after purchasing an additional 932,414 shares during the quarter. Armistice Capital LLC owned 8.93% of Moleculin Biotech worth $1,217,000 at the end of the most recent reporting period. 15.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on MBRX shares. HC Wainwright reiterated a “buy” rating and issued a $8.00 target price on shares of Moleculin Biotech in a research note on Monday, March 24th. Maxim Group raised Moleculin Biotech from a “hold” rating to a “buy” rating and set a $4.00 price objective on the stock in a research report on Tuesday, March 25th. Finally, Wall Street Zen upgraded Moleculin Biotech to a “sell” rating in a research note on Wednesday, March 26th.

Moleculin Biotech Stock Performance

Shares of Moleculin Biotech stock opened at $0.84 on Wednesday. The stock’s 50-day simple moving average is $0.94 and its 200-day simple moving average is $1.44. Moleculin Biotech has a 52 week low of $0.40 and a 52 week high of $4.90.

Moleculin Biotech (NASDAQ:MBRX) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($0.69) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.02. During the same period in the previous year, the business posted ($2.02) EPS. Research analysts predict that Moleculin Biotech will post -7.98 EPS for the current fiscal year.

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 1B/2 clinical trials for the treatment of relapsed or refractory acute myeloid leukemia (AML) and soft tissue sarcoma metastasized to the lungs.