Moleculin Biotech, Inc. (NASDAQ:MBRX) Sees Significant Increase in Short Interest

Moleculin Biotech, Inc. (NASDAQ:MBRX) saw a large growth in short interest in September. As of September 15th, there was short interest totaling 287,608 shares, a growth of 61.5% from the August 31st total of 178,126 shares. Approximately 1.8% of the company’s stock are short sold. Based on an average trading volume of 652,899 shares, the days-to-cover ratio is currently 0.4 days.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Moleculin Biotech in a research report on Friday, July 17th. Wall Street Zen raised shares of Moleculin Biotech from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, HC Wainwright cut their price target on shares of Moleculin Biotech to $3.00 and set a “buy” rating on the stock in a research report on Friday, August 28th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $3.00.

Moleculin Biotech Stock Up 0.7%

Shares of NASDAQ MBRX traded up $0.00 during trading hours on Thursday, hitting $0.50. The company had a trading volume of 335,043 shares, compared to its average volume of 652,689. The stock has a market capitalization of $9.81 million, a P/E ratio of -0.07 and a beta of 1.92. Moleculin Biotech has a 1-year low of $0.16 and a 1-year high of $15.75. The firm’s 50 day moving average is $0.75 and its 200-day moving average is $1.86.

Moleculin Biotech (NASDAQ:MBRX) last issued its earnings results on Thursday, August 13th. The company reported ($1.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.55) by $0.15. On average, sell-side analysts predict that Moleculin Biotech will post -2.37 earnings per share for the current year.

About Moleculin Biotech

Moleculin Biotech, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for cancers that are difficult to treat or have limited therapeutic options. The company’s research programs target cancer-cell survival mechanisms, drug resistance and tumor metabolism.

Moleculin’s lead product candidate is annamycin, a liposomal formulation of doxorubicin designed to retain anticancer activity while reducing the risk of cardiotoxicity associated with some conventional anthracyclines.