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

StockNews.com initiated coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a report published on Sunday. The brokerage issued a sell rating on the stock.

Other analysts also recently issued research reports about the company. Maxim Group cut their price objective on Moleculin Biotech from $45.00 to $20.00 and set a buy rating on the stock in a report on Tuesday, March 26th. Roth Mkm restated a buy rating and set a $40.00 price objective on shares of Moleculin Biotech in a report on Friday, April 12th.

Moleculin Biotech Trading Down 5.4 %

Shares of NASDAQ MBRX opened at $4.35 on Friday. The firm has a 50-day moving average of $6.81 and a two-hundred day moving average of $8.05. The company has a market capitalization of $9.69 million, a price-to-earnings ratio of -0.32 and a beta of 1.95. Moleculin Biotech has a twelve month low of $4.28 and a twelve month high of $15.75.

Hedge Funds Weigh In On Moleculin Biotech

A hedge fund recently bought a new stake in Moleculin Biotech stock. Atticus Wealth Management LLC bought a new stake in Moleculin Biotech, Inc. (NASDAQ:MBRX) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 50,001 shares of the company’s stock, valued at approximately $43,000. Atticus Wealth Management LLC owned 0.17% of Moleculin Biotech at the end of the most recent reporting period. 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.