Moleculin Biotech (NASDAQ:MBRX) Trading 0.8% Higher – Here’s What Happened

Moleculin Biotech, Inc. (NASDAQ:MBRX)’s share price traded up 0.8% during trading on Friday . The company traded as high as $2.48 and last traded at $2.42. 95,431 shares changed hands during mid-day trading, an increase of 4% from the average session volume of 92,002 shares. The stock had previously closed at $2.40.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Moleculin Biotech in a report on Thursday, January 22nd. HC Wainwright reaffirmed a “buy” rating and issued a $22.00 target price on shares of Moleculin Biotech in a report on Tuesday, March 24th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $22.00.

Moleculin Biotech Trading Up 0.8%

The company has a market capitalization of $12.92 million, a price-to-earnings ratio of -0.07 and a beta of 1.67. The firm’s 50 day simple moving average is $2.63 and its 200-day simple moving average is $6.01.

Hedge Funds Weigh In On Moleculin Biotech

A hedge fund recently bought a new stake in Moleculin Biotech stock. Jane Street Group LLC acquired a new stake in Moleculin Biotech, Inc. (NASDAQ:MBRX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 22,550 shares of the company’s stock, valued at approximately $75,000. Jane Street Group LLC owned 1.11% of Moleculin Biotech as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 15.52% of the company’s stock.

About Moleculin Biotech

Moleculin Biotech, Inc is a clinical-stage pharmaceutical company focused on the development of novel therapies for the treatment of highly resistant tumors and viral infections. The company’s research platform centers on the design and synthesis of drug candidates that target key cellular pathways in cancer cells and viral replication processes. By leveraging a proprietary chemistry approach, Moleculin aims to address diseases that have limited therapeutic options and high unmet medical need.

The company’s pipeline includes multiple product candidates at various stages of development.