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

Posted by on Apr 11th, 2023

Research analysts at StockNews.com initiated coverage on shares of Moleculin Biotech (NASDAQ:MBRX – Get Rating) in a note issued to investors on Tuesday. The firm set a “sell” rating on the stock.

Separately, Oppenheimer restated an “outperform” rating and set a $5.00 target price on shares of Moleculin Biotech in a research report on Friday, March 24th.

Moleculin Biotech Stock Performance

Moleculin Biotech stock opened at $0.92 on Tuesday. Moleculin Biotech has a 12 month low of $0.82 and a 12 month high of $2.05. The stock has a fifty day simple moving average of $1.11 and a two-hundred day simple moving average of $1.14. The firm has a market cap of $26.30 million, a price-to-earnings ratio of -0.90 and a beta of 1.99.

Institutional Trading of Moleculin Biotech

Several institutional investors and hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. bought a new position in shares of Moleculin Biotech during the fourth quarter valued at approximately $39,000. Renaissance Technologies LLC boosted its position in Moleculin Biotech by 47.1% during the 2nd quarter. Renaissance Technologies LLC now owns 88,100 shares of the company’s stock valued at $128,000 after acquiring an additional 28,200 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Moleculin Biotech by 19.2% in the 1st quarter. State Street Corp now owns 71,397 shares of the company’s stock valued at $127,000 after acquiring an additional 11,497 shares during the period. 10.43% of the stock is currently owned by institutional investors.

About Moleculin Biotech

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Moleculin Biotech, Inc is a clinical stage pharmaceutical company. It engages in the business of growing pipeline including phase 2 clinical programs for hard-to-treat cancers and viruses. The company was founded by Walter V. Klemp, Donald H. Picker, and Waldemar Priebe on July 28, 2015 and is headquartered in Houston, TX.

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