Moleculin Biotech (NASDAQ:MBRX) Shares Down 3.3% – Here’s Why

Moleculin Biotech, Inc. (NASDAQ:MBRX)’s stock price dropped 3.3% during mid-day trading on Tuesday . The stock traded as low as $2.26 and last traded at $2.32. Approximately 240,950 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 1,117,771 shares. The stock had previously closed at $2.40.

Wall Street Analysts Forecast Growth

MBRX has been the topic of a number of recent research reports. HC Wainwright reaffirmed a “buy” rating and set a $22.00 price objective on shares of Moleculin Biotech in a report on Tuesday, March 24th. Wall Street Zen cut Moleculin Biotech from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Moleculin Biotech in a report on Tuesday, April 21st. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $22.00.

Moleculin Biotech Stock Down 3.3%

The stock has a fifty day moving average of $2.59 and a 200-day moving average of $2.99. The firm has a market capitalization of $12.39 million, a P/E ratio of -0.13 and a beta of 1.75.

Moleculin Biotech (NASDAQ:MBRX) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($3.54) earnings per share for the quarter, missing the consensus estimate of ($2.33) by ($1.21). As a group, analysts forecast that Moleculin Biotech, Inc. will post -5.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Moleculin Biotech stock. Jane Street Group LLC acquired a new stake in Moleculin Biotech, Inc. (NASDAQ:MBRX) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 22,550 shares of the company’s stock, valued at approximately $75,000. Jane Street Group LLC owned about 1.11% of Moleculin Biotech as of its most recent filing with the SEC. Institutional investors and hedge funds own 15.52% of the company’s stock.

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.