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

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

Several other equities research analysts have also recently weighed in on MBRX. Roth Mkm restated a “buy” rating and set a $40.00 target price on shares of Moleculin Biotech in a report on Friday. Maxim Group lowered their price objective 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.

Moleculin Biotech Stock Down 3.6 %

NASDAQ MBRX opened at $4.60 on Friday. The company has a 50-day simple moving average of $7.39 and a two-hundred day simple moving average of $8.17. Moleculin Biotech has a 12-month low of $4.34 and a 12-month high of $24.75. The firm has a market cap of $10.26 million, a price-to-earnings ratio of -0.34 and a beta of 1.95.

Institutional Investors Weigh In On Moleculin Biotech

Institutional investors and hedge funds have recently modified their holdings of the stock. Citadel Advisors LLC purchased a new position in shares of Moleculin Biotech during the 4th quarter worth approximately $55,000. Armistice Capital LLC purchased a new position in shares of Moleculin Biotech in the 4th quarter worth about $2,753,000. Atticus Wealth Management LLC bought a new position in Moleculin Biotech in the 4th quarter worth about $43,000. Renaissance Technologies LLC boosted its stake in Moleculin Biotech by 34.7% in the 2nd quarter. Renaissance Technologies LLC now owns 127,400 shares of the company’s stock worth $74,000 after purchasing an additional 32,795 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. purchased a new stake in Moleculin Biotech during the 4th quarter valued at about $39,000. 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.