Moleculin Biotech, Inc. (NASDAQ:MBRX) Sees Significant Drop in Short Interest

Moleculin Biotech, Inc. (NASDAQ:MBRX) was the recipient of a large decrease in short interest in April. As of April 15th, there was short interest totalling 26,700 shares, a decrease of 40.7% from the March 31st total of 45,000 shares. Based on an average trading volume of 33,000 shares, the short-interest ratio is presently 0.8 days. Approximately 1.2% of the company’s stock are sold short.

Moleculin Biotech Price Performance

Shares of MBRX stock opened at $4.31 on Friday. Moleculin Biotech has a one year low of $4.28 and a one year high of $15.75. The company’s 50-day moving average is $6.74 and its 200 day moving average is $8.03.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Roth Mkm reaffirmed a “buy” rating and issued a $40.00 price target on shares of Moleculin Biotech in a research note on Friday, April 12th. StockNews.com began coverage on shares of Moleculin Biotech in a report on Sunday, April 21st. They issued a “sell” rating on the stock. Finally, Maxim Group lowered their target price 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.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Moleculin Biotech stock. Armistice Capital LLC acquired a new stake in Moleculin Biotech, Inc. (NASDAQ:MBRX) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 3,207,417 shares of the company’s stock, valued at approximately $2,753,000. Armistice Capital LLC owned approximately 9.60% of Moleculin Biotech at the end of the most recent quarter. Institutional investors own 15.52% of the company’s stock.

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.