Moleculin Biotech (NASDAQ:MBRX) Trading Up 6.7%
Moleculin Biotech Inc (NASDAQ:MBRX)’s share price rose 6.7% on Tuesday . The stock traded as high as $1.29 and last traded at $1.27, approximately 540,648 shares changed hands during trading. A decline of 64% from the average daily volume of 1,509,130 shares. The stock had previously closed at $1.19.
MBRX has been the topic of several research analyst reports. Roth Capital reaffirmed a “buy” rating on shares of Moleculin Biotech in a research note on Thursday, May 23rd. ValuEngine raised shares of Moleculin Biotech from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, Maxim Group set a $3.00 price objective on shares of Moleculin Biotech and gave the stock a “buy” rating in a research note on Tuesday, August 20th.
The company has a debt-to-equity ratio of 0.01, a current ratio of 2.11 and a quick ratio of 2.11. The stock has a market capitalization of $57.40 million, a P/E ratio of -2.49 and a beta of 1.96. The company’s 50 day simple moving average is $1.12 and its two-hundred day simple moving average is $1.18.
Institutional investors have recently modified their holdings of the business. Morgan Stanley grew its stake in Moleculin Biotech by 151.7% during the second quarter. Morgan Stanley now owns 31,411 shares of the company’s stock worth $39,000 after buying an additional 18,933 shares during the last quarter. BlackRock Inc. grew its stake in Moleculin Biotech by 134.8% during the second quarter. BlackRock Inc. now owns 112,572 shares of the company’s stock worth $141,000 after buying an additional 64,632 shares during the last quarter. Renaissance Technologies LLC grew its stake in Moleculin Biotech by 430.4% during the second quarter. Renaissance Technologies LLC now owns 833,664 shares of the company’s stock worth $1,042,000 after buying an additional 676,500 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Moleculin Biotech by 235.4% during the second quarter. Vanguard Group Inc. now owns 2,680,010 shares of the company’s stock worth $3,350,000 after buying an additional 1,880,961 shares during the last quarter. 9.39% of the stock is currently owned by hedge funds and other institutional investors.
About Moleculin Biotech (NASDAQ:MBRX)
Moleculin Biotech, Inc, a clinical-stage pharmaceutical company, focuses on the development of oncology drug candidates. Its lead drug candidate is liposomal Annamycin, an anthracycline intended for the treatment of relapsed or refractory acute myeloid leukemia (AML). The company also develops WP1066 Portfolio, an immuno-stimulating STAT3 inhibitor for the treatment of brain tumors, pancreatic cancer, and AML; and WP1122 Portfolio and related molecules for the treatment of glioblastoma multiforme and related central nervous system malignancies.
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