Short Interest in Moleculin Biotech, Inc. (NASDAQ:MBRX) Decreases By 50.9%

Moleculin Biotech, Inc. (NASDAQ:MBRX) was the target of a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 1,080,000 shares, a drop of 50.9% from the February 13th total of 2,200,000 shares. Based on an average daily trading volume, of 5,220,000 shares, the days-to-cover ratio is currently 0.2 days. Approximately 8.4% of the company’s shares are sold short.

Moleculin Biotech Trading Down 2.6 %

Shares of MBRX traded down $0.03 during trading hours on Friday, hitting $1.13. 492,587 shares of the stock were exchanged, compared to its average volume of 6,934,791. Moleculin Biotech has a fifty-two week low of $0.40 and a fifty-two week high of $8.85. The business has a 50-day moving average of $1.42 and a 200-day moving average of $2.07.

Analysts Set New Price Targets

Several equities analysts have issued reports on MBRX shares. Maxim Group cut shares of Moleculin Biotech from a “buy” rating to a “hold” rating in a research report on Wednesday, February 12th. StockNews.com began coverage on Moleculin Biotech in a report on Thursday. They issued a “sell” rating for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $8.00 target price on shares of Moleculin Biotech in a report on Monday, March 3rd.

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.