Short Interest in Moleculin Biotech, Inc. (NASDAQ:MBRX) Drops By 79.9%

Moleculin Biotech, Inc. (NASDAQ:MBRX) was the recipient of a significant drop in short interest during the month of August. As of August 14th, there was short interest totaling 316,392 shares, a drop of 79.9% from the July 30th total of 1,577,365 shares. Based on an average daily volume of 2,216,181 shares, the short-interest ratio is presently 0.1 days. Currently, 1.6% of the shares of the company are sold short.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Moleculin Biotech in a report on Friday, July 17th. HC Wainwright lowered their target price on Moleculin Biotech to $3.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Wall Street Zen upgraded Moleculin Biotech from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Moleculin Biotech currently has a consensus rating of “Hold” and a consensus price target of $3.00.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Moleculin Biotech stock. Jane Street Group LLC bought a new stake in shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 22,550 shares of the company’s stock, valued at approximately $75,000. Jane Street Group LLC owned approximately 1.11% of Moleculin Biotech at the end of the most recent reporting period. Institutional investors own 15.52% of the company’s stock.

Moleculin Biotech Stock Performance

Shares of MBRX traded down $0.04 during trading hours on Friday, hitting $0.65. The stock had a trading volume of 613,294 shares, compared to its average volume of 2,431,719. The firm has a 50-day moving average price of $1.61 and a 200 day moving average price of $2.24. Moleculin Biotech has a fifty-two week low of $0.16 and a fifty-two week high of $15.75.

Moleculin Biotech (NASDAQ:MBRX) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($1.40) earnings per share for the quarter, beating the consensus estimate of ($1.55) by $0.15. Equities research analysts anticipate that Moleculin Biotech will post -3.01 earnings per share for the current year.

About Moleculin Biotech

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.