Maxim Group Cuts Moleculin Biotech (NASDAQ:MBRX) Price Target to $8.00

Posted by Lauren Steadman on Nov 15th, 2024

Moleculin Biotech (NASDAQ:MBRX – Free Report) had its target price trimmed by Maxim Group from $20.00 to $8.00 in a report released on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Separately, StockNews.com assumed coverage on shares of Moleculin Biotech in a report on Tuesday, November 5th. They issued a “sell” rating on the stock.

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Moleculin Biotech Stock Performance

Shares of MBRX traded down $0.18 during mid-day trading on Tuesday, hitting $2.91. 52,455 shares of the company traded hands, compared to its average volume of 32,818. Moleculin Biotech has a 1-year low of $2.12 and a 1-year high of $15.75. The business has a 50 day moving average of $2.50 and a 200 day moving average of $3.32.

Moleculin Biotech (NASDAQ:MBRX – Get Free Report) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($2.23) earnings per share for the quarter, missing the consensus estimate of ($2.10) by ($0.13). As a group, equities analysts anticipate that Moleculin Biotech will post -8.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC increased its holdings in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX – Free Report) by 5.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,000 shares of the company’s stock after buying an additional 7,505 shares during the period. Armistice Capital LLC owned about 6.75% of Moleculin Biotech worth $549,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 15.52% of the stock is currently owned by hedge funds and other institutional investors.

Moleculin Biotech Company Profile

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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.