Moleculin Biotech’s (MBRX) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Moleculin Biotech (NASDAQ:MBRX) in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a $4.00 target price on the stock.

Moleculin Biotech Price Performance

MBRX opened at $0.36 on Wednesday. Moleculin Biotech has a 52 week low of $0.25 and a 52 week high of $3.65. The business’s fifty day simple moving average is $0.58 and its 200 day simple moving average is $0.77.

Moleculin Biotech (NASDAQ:MBRX) last released its earnings results on Tuesday, August 12th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.10). As a group, analysts expect that Moleculin Biotech will post -7.98 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Jonathan P. Foster bought 270,270 shares of Moleculin Biotech stock in a transaction that occurred on Monday, June 23rd. The shares were acquired at an average price of $0.37 per share, with a total value of $99,999.90. Following the completion of the purchase, the chief financial officer directly owned 287,587 shares in the company, valued at $106,407.19. The trade was a 1,560.72% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Walter V. Klemp bought 675,675 shares of Moleculin Biotech stock in a transaction that occurred on Monday, June 23rd. The stock was purchased at an average cost of $0.37 per share, for a total transaction of $249,999.75. Following the purchase, the chief executive officer owned 743,607 shares of the company’s stock, valued at $275,134.59. The trade was a 994.63% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of Moleculin Biotech

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC raised its holdings in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) by 293.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,250,000 shares of the company’s stock after buying an additional 932,414 shares during the period. Armistice Capital LLC owned about 8.93% of Moleculin Biotech worth $1,217,000 at the end of the most recent reporting period. Hedge funds and other 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 1B/2 clinical trials for the treatment of relapsed or refractory acute myeloid leukemia (AML) and soft tissue sarcoma metastasized to the lungs.