Moleculin Biotech (NASDAQ:MBRX) Shares to Reverse Split on Tuesday, October 20th

Shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) are set to reverse split on Tuesday, October 20th. The 1-20 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, October 19th.

Moleculin Biotech Price Performance

NASDAQ:MBRX traded down $0.09 during trading hours on Friday, reaching $0.28. The company’s stock had a trading volume of 1,180,292 shares, compared to its average volume of 1,120,588. The firm has a 50-day simple moving average of $0.58 and a 200-day simple moving average of $1.71. Moleculin Biotech has a 1 year low of $0.16 and a 1 year high of $15.75.

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on MBRX shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Moleculin Biotech in a research note on Thursday. 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 cut their price target on shares of Moleculin Biotech to $3.00 and set a “buy” rating on the stock in a report on Friday, August 28th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $3.00.

Moleculin Biotech Company Profile

Moleculin Biotech, Inc is a clinical-stage pharmaceutical company focused on developing treatments for cancer and other serious diseases. Its research programs are based on compounds designed to target biological mechanisms involved in tumor growth, drug resistance and immune-system regulation.

The company’s lead program is annamycins, including L-annamycin, an anthracycline designed to retain anticancer activity while reducing some limitations associated with conventional anthracyclines, particularly damage to the heart.