Moleculin Biotech (NASDAQ:MBRX) Stock Price Crosses Below Fifty Day Moving Average – Here’s What Happened

Shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $5.82 and traded as low as $4.27. Moleculin Biotech shares last traded at $4.76, with a volume of 221,246 shares trading hands.

Wall Street Analyst Weigh In

MBRX has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Moleculin Biotech in a research note on Wednesday, October 8th. HC Wainwright reiterated a “buy” rating and set a $22.00 price target (up previously from $4.00) on shares of Moleculin Biotech in a report on Thursday, December 11th. Wall Street Zen downgraded Moleculin Biotech to a “strong sell” rating in a research note on Friday, October 3rd. Finally, Roth Mkm reaffirmed a “buy” rating on shares of Moleculin Biotech in a research note on Monday, December 15th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Moleculin Biotech currently has a consensus rating of “Moderate Buy” and an average price target of $61.00.

Moleculin Biotech Stock Up 11.7%

The business has a 50-day moving average of $5.82 and a 200-day moving average of $10.61. The stock has a market cap of $9.71 million, a price-to-earnings ratio of -0.15 and a beta of 1.62.

Moleculin Biotech (NASDAQ:MBRX) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.07. Equities analysts anticipate that Moleculin Biotech, Inc. will post -7.98 earnings per share for the current year.

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.