StockNews.com Initiates Coverage on Moleculin Biotech (NASDAQ:MBRX)

StockNews.com initiated coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a research note published on Saturday morning. The firm issued a sell rating on the stock.

Several other brokerages have also recently weighed in on MBRX. Roth Mkm reiterated a buy rating and issued a $40.00 price objective on shares of Moleculin Biotech in a research note on Friday. Maxim Group lowered their price objective on shares of Moleculin Biotech from $45.00 to $20.00 and set a buy rating on the stock in a research note on Tuesday, March 26th.

Moleculin Biotech Stock Down 3.6 %

Shares of NASDAQ:MBRX opened at $4.46 on Friday. The firm’s 50 day moving average price is $7.26 and its 200-day moving average price is $8.17. Moleculin Biotech has a twelve month low of $4.32 and a twelve month high of $24.75. The stock has a market capitalization of $9.95 million, a PE ratio of -0.33 and a beta of 1.96.

Institutional Investors Weigh In On Moleculin Biotech

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. purchased a new stake in Moleculin Biotech in the 4th quarter worth approximately $39,000. Atticus Wealth Management LLC purchased a new stake in Moleculin Biotech in the 4th quarter worth approximately $43,000. Citadel Advisors LLC purchased a new stake in Moleculin Biotech in the 4th quarter worth approximately $55,000. Renaissance Technologies LLC grew its holdings in Moleculin Biotech by 34.7% during the 2nd quarter. Renaissance Technologies LLC now owns 127,400 shares of the company’s stock valued at $74,000 after buying an additional 32,795 shares in the last quarter. Finally, State Street Corp grew its holdings in Moleculin Biotech by 19.2% during the 1st quarter. State Street Corp now owns 71,397 shares of the company’s stock valued at $127,000 after buying an additional 11,497 shares in the last quarter. 15.52% of the stock is owned by hedge funds and other institutional investors.

About Moleculin Biotech

Moleculin Biotech, Inc, a clinical stage pharmaceutical company, focuses on the development of drug candidates for the treatment of cancers and viruses. Its lead drug candidate is Annamycin, which is in Phase 1/2 studies for the treatment of relapsed or refractory acute myeloid leukemia (AML) and cancers metastasized to the lungs.