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

StockNews.com started coverage on shares of Moleculin Biotech (NASDAQ:MBRXGet Rating) in a research note published on Saturday. The firm issued a sell rating on the stock.

Separately, Oppenheimer restated an outperform rating and issued a $14.00 price target on shares of Moleculin Biotech in a research report on Monday, July 18th.

Moleculin Biotech Stock Down 2.9 %

NASDAQ MBRX opened at $1.68 on Friday. The firm has a 50-day moving average price of $1.59 and a two-hundred day moving average price of $1.55. Moleculin Biotech has a 12-month low of $1.02 and a 12-month high of $3.20. The company has a market capitalization of $48.01 million, a P/E ratio of -2.67 and a beta of 1.78.

Moleculin Biotech (NASDAQ:MBRXGet Rating) last released its quarterly earnings data on Wednesday, May 11th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.03). Equities analysts expect that Moleculin Biotech will post -1.01 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp boosted its stake in Moleculin Biotech by 19.2% during the first quarter. State Street Corp now owns 71,397 shares of the company’s stock worth $127,000 after acquiring an additional 11,497 shares in the last quarter. Sigma Planning Corp boosted its stake in Moleculin Biotech by 33.7% during the first quarter. Sigma Planning Corp now owns 57,500 shares of the company’s stock worth $102,000 after acquiring an additional 14,500 shares in the last quarter. Walker Asset Management LLC bought a new position in Moleculin Biotech during the second quarter worth $32,000. Finally, Renaissance Technologies LLC boosted its stake in Moleculin Biotech by 79.3% during the first quarter. Renaissance Technologies LLC now owns 59,900 shares of the company’s stock worth $107,000 after acquiring an additional 26,500 shares in the last quarter. 10.57% of the stock is owned by institutional investors.

About Moleculin Biotech

(Get Rating)

Moleculin Biotech, Inc, a clinical-stage pharmaceutical company, focuses on the development of drug candidates for the treatment of highly resistant tumors and viruses. Its lead drug candidate is Annamycin that is in Phase 1/2 studies for the treatment of relapsed or refractory acute myeloid leukemia (AML) and cancers metastasized to the lungs.

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