Moleculin Biotech (NASDAQ:MBRX) Trading Down 3.3% – Here’s Why

Moleculin Biotech, Inc. (NASDAQ:MBRX) shares fell 3.3% during mid-day trading on Tuesday . The company traded as low as $2.26 and last traded at $2.32. Approximately 240,950 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 1,117,771 shares. The stock had previously closed at $2.40.

Analyst Ratings Changes

MBRX has been the topic of a number of research analyst reports. Wall Street Zen cut Moleculin Biotech from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Moleculin Biotech in a research report on Tuesday, April 21st. Finally, HC Wainwright reaffirmed a “buy” rating and set a $22.00 target price on shares of Moleculin Biotech in a report on Tuesday, March 24th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $22.00.

Moleculin Biotech Price Performance

The firm has a market cap of $13.03 million, a price-to-earnings ratio of -0.14 and a beta of 1.75. The stock has a 50-day moving average of $2.58 and a 200-day moving average of $2.98.

Moleculin Biotech (NASDAQ:MBRX) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($3.54) earnings per share for the quarter, missing the consensus estimate of ($2.33) by ($1.21). On average, equities analysts expect that Moleculin Biotech, Inc. will post -5.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Moleculin Biotech stock. Jane Street Group LLC purchased a new position in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 22,550 shares of the company’s stock, valued at approximately $75,000. Jane Street Group LLC owned approximately 1.11% of Moleculin Biotech at the end of the most recent quarter. 15.52% of the stock is owned by institutional investors.

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.