Moleculin Biotech, Inc. (NASDAQ:MBRX) Short Interest Up 65.7% in December

Moleculin Biotech, Inc. (NASDAQ:MBRX) was the target of a large growth in short interest in December. As of December 15th, there was short interest totalling 34,300 shares, a growth of 65.7% from the November 30th total of 20,700 shares. Approximately 1.1% of the shares of the stock are short sold. Based on an average daily volume of 48,400 shares, the short-interest ratio is currently 0.7 days.

Analyst Ratings Changes

A number of research firms have weighed in on MBRX. Maxim Group reduced their target price on Moleculin Biotech from $20.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. StockNews.com initiated coverage on shares of Moleculin Biotech in a research note on Monday. They issued a “sell” rating on the stock.

Moleculin Biotech Stock Performance

Shares of NASDAQ:MBRX traded down $0.12 on Friday, hitting $1.65. The company’s stock had a trading volume of 46,606 shares, compared to its average volume of 35,869. Moleculin Biotech has a 1 year low of $1.50 and a 1 year high of $15.75. The company has a 50-day simple moving average of $2.45 and a 200 day simple moving average of $2.81.

Institutional Investors Weigh In On Moleculin Biotech

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC boosted its position in Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 156,000 shares of the company’s stock after acquiring an additional 7,505 shares during the quarter. Armistice Capital LLC owned 6.75% of Moleculin Biotech worth $549,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other 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 1B/2 clinical trials for the treatment of relapsed or refractory acute myeloid leukemia (AML) and soft tissue sarcoma metastasized to the lungs.