Moleculin Biotech, Inc. (NASDAQ:MBRX) Sees Significant Decline in Short Interest

Moleculin Biotech, Inc. (NASDAQ:MBRX) was the target of a large drop in short interest during the month of August. As of August 31st, there was short interest totaling 178,126 shares, a drop of 43.7% from the August 15th total of 316,392 shares. Based on an average daily volume of 691,114 shares, the short-interest ratio is presently 0.3 days. Currently, 1.1% of the company’s stock are short sold.

Moleculin Biotech Stock Up 8.4%

NASDAQ MBRX opened at $0.78 on Tuesday. Moleculin Biotech has a twelve month low of $0.16 and a twelve month high of $15.75. The business has a 50-day moving average price of $1.14 and a 200-day moving average price of $2.00. The firm has a market cap of $15.10 million, a price-to-earnings ratio of -0.11 and a beta of 1.92.

Moleculin Biotech (NASDAQ:MBRX) last released its quarterly earnings data on Thursday, August 13th. The company reported ($1.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.55) by $0.15. Research analysts expect that Moleculin Biotech will post -2.37 EPS for the current fiscal year.

Analysts Set New Price Targets

MBRX has been the subject of a number of recent research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Moleculin Biotech in a research report on Friday, July 17th. Wall Street Zen raised Moleculin Biotech from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. Finally, HC Wainwright lowered their price objective on Moleculin Biotech to $3.00 and set a “buy” rating on the stock in a research report on Friday, August 28th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Moleculin Biotech has a consensus rating of “Hold” and an average target price of $3.00.

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.