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

Moleculin Biotech, Inc. (NASDAQ:MBRX) was the target of a significant decline in short interest in October. As of October 31st, there was short interest totalling 122,400 shares, a decline of 28.6% from the October 15th total of 171,500 shares. Approximately 4.5% of the shares of the stock are sold short. Based on an average daily volume of 32,300 shares, the days-to-cover ratio is currently 3.8 days.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. StockNews.com started coverage on shares of Moleculin Biotech in a report on Wednesday. They issued a “sell” rating on the stock. Maxim Group dropped their target price on Moleculin Biotech from $20.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday.

Institutional Trading of Moleculin Biotech

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC raised its position in Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 156,000 shares of the company’s stock after purchasing an additional 7,505 shares during the period. Armistice Capital LLC owned 6.75% of Moleculin Biotech worth $549,000 as of its most recent filing with the Securities and Exchange Commission. 15.52% of the stock is currently owned by institutional investors.

Moleculin Biotech Stock Up 23.1 %

Shares of NASDAQ MBRX traded up $0.58 during trading on Thursday, hitting $3.09. 530,199 shares of the company were exchanged, compared to its average volume of 32,714. The company has a fifty day moving average price of $2.50 and a 200-day moving average price of $3.32. Moleculin Biotech has a 12-month low of $2.12 and a 12-month high of $15.75.

Moleculin Biotech (NASDAQ:MBRX) last released its earnings results on Tuesday, August 13th. The company reported ($2.23) EPS 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 earnings per share for the current year.

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.