HC Wainwright Cuts Moleculin Biotech (NASDAQ:MBRX) Price Target to $3.00

Moleculin Biotech (NASDAQ:MBRX) had its target price decreased by HC Wainwright from $22.00 to $3.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s target price would suggest a potential upside of 335.60% from the company’s previous close.

MBRX has been the topic of a number of other reports. Weiss Ratings restated a “sell (e+)” rating on shares of Moleculin Biotech in a research note on Friday, July 17th. Wall Street Zen upgraded shares of Moleculin Biotech from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $3.00.

Moleculin Biotech Stock Performance

MBRX stock opened at $0.69 on Friday. The stock has a fifty day moving average of $1.66 and a 200-day moving average of $2.25. Moleculin Biotech has a fifty-two week low of $0.16 and a fifty-two week high of $15.75. The company has a market capitalization of $13.42 million, a price-to-earnings ratio of -0.10 and a beta of 1.83.

Moleculin Biotech (NASDAQ:MBRX) last released its quarterly earnings data on Thursday, August 13th. The company reported ($1.40) EPS for the quarter, beating the consensus estimate of ($1.55) by $0.15. Equities analysts predict that Moleculin Biotech will post -3.01 EPS for the current year.

Hedge Funds Weigh In On Moleculin Biotech

An institutional investor recently bought a new stake in Moleculin Biotech stock. Jane Street Group LLC purchased a new position in Moleculin Biotech, Inc. (NASDAQ:MBRX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 22,550 shares of the company’s stock, valued at approximately $75,000. Jane Street Group LLC owned about 1.11% of Moleculin Biotech at the end of the most recent reporting period. 15.52% of the stock is owned by institutional investors.

Moleculin Biotech Company Profile

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.