Moleculin Biotech, Inc. (NASDAQ:MBRX) Sees Large Decrease in Short Interest

Moleculin Biotech, Inc. (NASDAQ:MBRX) was the recipient of a significant drop in short interest in December. As of December 15th, there was short interest totaling 175,916 shares, a drop of 95.4% from the November 30th total of 3,784,612 shares. Approximately 8.9% of the company’s stock are sold short. Based on an average trading volume of 444,086 shares, the days-to-cover ratio is currently 0.4 days. Based on an average trading volume of 444,086 shares, the days-to-cover ratio is currently 0.4 days. Approximately 8.9% of the company’s stock are sold short.

Institutional Investors Weigh In On Moleculin Biotech

A hedge fund recently raised its stake in Moleculin Biotech stock. Armistice Capital LLC raised its holdings in Moleculin Biotech, Inc. (NASDAQ:MBRX) by 293.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,250,000 shares of the company’s stock after buying an additional 932,414 shares during the quarter. Armistice Capital LLC owned 8.93% of Moleculin Biotech worth $1,217,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 15.52% of the company’s stock.

Moleculin Biotech Stock Down 4.5%

Shares of NASDAQ:MBRX traded down $0.19 during trading on Wednesday, reaching $3.96. The stock had a trading volume of 126,034 shares, compared to its average volume of 618,552. The stock has a fifty day simple moving average of $9.07 and a two-hundred day simple moving average of $11.68. Moleculin Biotech has a 52 week low of $3.63 and a 52 week high of $91.25. The firm has a market capitalization of $8.09 million, a price-to-earnings ratio of -0.12 and a beta of 1.58.

Moleculin Biotech (NASDAQ:MBRX) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.07. On average, analysts forecast that Moleculin Biotech will post -7.98 EPS for the current year.

Analyst Ratings Changes

Several analysts have commented on MBRX shares. HC Wainwright reissued a “buy” rating and issued a $22.00 target price (up from $4.00) on shares of Moleculin Biotech in a research report on Thursday, December 11th. Wall Street Zen lowered shares of Moleculin Biotech to a “strong sell” rating in a research note on Friday, October 3rd. Weiss Ratings reissued a “sell (e+)” rating on shares of Moleculin Biotech in a research report on Wednesday, October 8th. Finally, Roth Capital restated a “buy” rating on shares of Moleculin Biotech in a report on Monday, December 15th. Three investment 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 stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.00.

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.