HC Wainwright Cuts Moleculin Biotech (NASDAQ:MBRX) Price Target to $3.00

Moleculin Biotech (NASDAQ:MBRX) had its price objective lowered by HC Wainwright to $3.00 in a research report released on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms have also issued reports on MBRX. Wall Street Zen upgraded Moleculin Biotech from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Moleculin Biotech in a research report on Friday, July 17th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $3.00.

Moleculin Biotech Stock Performance

Shares of MBRX stock opened at $0.65 on Friday. The firm’s 50 day moving average price is $1.61 and its two-hundred day moving average price is $2.23. Moleculin Biotech has a 52-week low of $0.16 and a 52-week high of $15.75. The stock has a market cap of $12.66 million, a PE ratio of -0.09 and a beta of 1.84.

Moleculin Biotech (NASDAQ:MBRX) last posted its quarterly 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. As a group, sell-side analysts predict that Moleculin Biotech will post -3.01 earnings per share for the current fiscal year.

Institutional Trading of Moleculin Biotech

An institutional investor recently bought a new position in Moleculin Biotech stock. Jane Street Group LLC purchased a new stake in Moleculin Biotech, Inc. (NASDAQ:MBRX) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 22,550 shares of the company’s stock, valued at approximately $75,000. Jane Street Group LLC owned approximately 1.11% of Moleculin Biotech at the end of the most recent reporting period. Institutional investors 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.