Moleculin Biotech (NASDAQ:MBRX) Shares Set to Reverse Split on Tuesday, October 20th

Shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) are going to reverse split on Tuesday, October 20th. The 1-20 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, October 19th.

Moleculin Biotech Trading Down 24.2%

Shares of Moleculin Biotech stock traded down $0.09 during trading on Friday, hitting $0.28. 1,180,292 shares of the company’s stock were exchanged, compared to its average volume of 1,120,588. The business has a 50-day simple moving average of $0.58 and a 200-day simple moving average of $1.71. Moleculin Biotech has a 52-week low of $0.16 and a 52-week high of $15.75.

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

Analysts Set New Price Targets

MBRX has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Moleculin Biotech in a research note on Thursday. Wall Street Zen raised 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 Moleculin Biotech to $3.00 and set a “buy” rating on the stock in a research note on Friday, August 28th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $3.00.

Moleculin Biotech Company Profile

Moleculin Biotech, Inc is a clinical-stage pharmaceutical company focused on developing treatments for cancer and other serious diseases. Its research programs are based on compounds designed to target biological mechanisms involved in tumor growth, drug resistance and immune-system regulation.

The company’s lead program is annamycins, including L-annamycin, an anthracycline designed to retain anticancer activity while reducing some limitations associated with conventional anthracyclines, particularly damage to the heart.