Moleculin Biotech (MBRX) Sees Strong Trading Volume
Shares of Moleculin Biotech Inc (NASDAQ:MBRX) saw an uptick in trading volume on Tuesday . 3,217,404 shares changed hands during mid-day trading, an increase of 810% from the previous session’s volume of 353,735 shares.The stock last traded at $1.00 and had previously closed at $0.95.
Several research analysts have recently issued reports on the stock. Maxim Group reiterated a “buy” rating and issued a $3.00 price objective on shares of Moleculin Biotech in a report on Tuesday, February 5th. Zacks Investment Research lowered shares of Moleculin Biotech from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 14th. ValuEngine raised shares of Moleculin Biotech from a “hold” rating to a “buy” rating in a research report on Tuesday, December 11th. Finally, Roth Capital set a $8.00 price objective on shares of Moleculin Biotech and gave the company a “buy” rating in a research note on Friday, December 14th.
The stock has a market capitalization of $26.80 million, a P/E ratio of -1.96 and a beta of 1.75.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Taylor Cottrill Erickson & Associates Inc. lifted its stake in Moleculin Biotech by 25.5% during the 4th quarter. Taylor Cottrill Erickson & Associates Inc. now owns 121,781 shares of the company’s stock valued at $127,000 after acquiring an additional 24,781 shares during the period. Northern Trust Corp raised its stake in shares of Moleculin Biotech by 109.1% during the 4th quarter. Northern Trust Corp now owns 47,918 shares of the company’s stock worth $50,000 after buying an additional 25,000 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Moleculin Biotech during the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 5.19% of the company’s stock.
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Moleculin Biotech Company Profile (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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