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

Shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) are scheduled 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 market closes on Monday, October 19th.

Moleculin Biotech Stock Down 24.2%

Shares of NASDAQ:MBRX traded down $0.09 during midday trading on Friday, hitting $0.28. The stock had a trading volume of 1,180,292 shares, compared to its average volume of 640,778. The company has a market cap of $5.46 million, a P/E ratio of -0.04 and a beta of 2.00. Moleculin Biotech has a 12 month low of $0.16 and a 12 month high of $15.75. The business’s 50-day simple moving average is $0.58 and its 200-day simple moving average is $1.71.

Moleculin Biotech (NASDAQ:MBRX) last released its quarterly earnings data on Thursday, August 13th. The company reported ($1.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.55) by $0.15. As a group, equities analysts predict that Moleculin Biotech will post -2.37 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wall Street Zen upgraded shares of Moleculin Biotech from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. HC Wainwright lowered their target price on Moleculin Biotech to $3.00 and set a “buy” rating on the stock in a research report on Friday, August 28th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Moleculin Biotech in a report on Thursday. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average 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.