StockNews.com Initiates Coverage on Moleculin Biotech (NASDAQ:MBRX)

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

Several other equities research analysts have also recently weighed in on MBRX. Roth Mkm reiterated a buy rating and set a $40.00 price objective on shares of Moleculin Biotech in a research report on Friday, April 12th. Maxim Group reduced their price target on shares of Moleculin Biotech from $45.00 to $20.00 and set a buy rating for the company in a report on Tuesday, March 26th.

Moleculin Biotech Stock Performance

MBRX stock opened at $4.33 on Friday. The company has a fifty day moving average price of $7.19 and a 200-day moving average price of $8.16. The company has a market capitalization of $9.66 million, a P/E ratio of -0.32 and a beta of 1.96. Moleculin Biotech has a 52-week low of $4.28 and a 52-week high of $24.75.

Institutional Trading of Moleculin Biotech

Hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. bought a new stake in shares of Moleculin Biotech in the fourth quarter valued at approximately $39,000. Atticus Wealth Management LLC bought a new stake in shares of Moleculin Biotech in the fourth quarter valued at approximately $43,000. Citadel Advisors LLC bought a new stake in shares of Moleculin Biotech in the fourth quarter valued at approximately $55,000. Renaissance Technologies LLC raised its position in shares of Moleculin Biotech by 34.7% in the second quarter. Renaissance Technologies LLC now owns 127,400 shares of the company’s stock valued at $74,000 after purchasing an additional 32,795 shares during the period. Finally, State Street Corp raised its position in shares of Moleculin Biotech by 19.2% in the first 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 during the period. Institutional investors own 15.52% of the company’s stock.

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.