Maxim Group Cuts Moleculin Biotech (NASDAQ:MBRX) Price Target to $20.00

Moleculin Biotech (NASDAQ:MBRX) had its target price cut by Maxim Group from $45.00 to $20.00 in a research report released on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also issued reports on the stock. HC Wainwright restated a buy rating and issued a $45.00 target price on shares of Moleculin Biotech in a research note on Thursday, December 14th. StockNews.com started coverage on shares of Moleculin Biotech in a research note on Wednesday, March 20th. They issued a sell rating on the stock.

Moleculin Biotech Price Performance

Shares of MBRX stock opened at $5.91 on Tuesday. The firm has a market capitalization of $13.18 million, a P/E ratio of -0.43 and a beta of 1.98. The company’s fifty day moving average price is $7.83 and its two-hundred day moving average price is $8.21. Moleculin Biotech has a 12 month low of $4.34 and a 12 month high of $24.75.

Institutional Investors Weigh In On Moleculin Biotech

Institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC grew its position in Moleculin Biotech by 47.1% in the 2nd quarter. Renaissance Technologies LLC now owns 88,100 shares of the company’s stock worth $128,000 after purchasing an additional 28,200 shares during the last quarter. State Street Corp grew its position in Moleculin Biotech by 19.2% in the 1st quarter. State Street Corp now owns 71,397 shares of the company’s stock worth $127,000 after purchasing an additional 11,497 shares during the last quarter. Citadel Advisors LLC bought a new position in Moleculin Biotech in the 4th quarter worth about $55,000. Charles Schwab Investment Management Inc. bought a new position in Moleculin Biotech in the 4th quarter worth about $39,000. Finally, Armistice Capital LLC bought a new position in Moleculin Biotech in the 4th quarter worth about $2,753,000. Institutional investors own 15.52% of the company’s stock.

Moleculin Biotech Company Profile

Moleculin Biotech, Inc, a clinical stage pharmaceutical company, focuses on the development of drug candidates for the treatment of cancers and viruses. Its lead drug candidate is Annamycin, which is in Phase 1/2 studies for the treatment of relapsed or refractory acute myeloid leukemia (AML) and cancers metastasized to the lungs.