Moleculin Biotech (NASDAQ:MBRX) Given “Buy” Rating at HC Wainwright

Moleculin Biotech (NASDAQ:MBRX)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a report issued on Wednesday,Benzinga reports. They currently have a $4.00 target price on the stock.

Moleculin Biotech Trading Down 1.4%

NASDAQ MBRX opened at $0.38 on Wednesday. The stock has a 50 day moving average price of $0.58 and a 200-day moving average price of $0.78. Moleculin Biotech has a one year low of $0.25 and a one year high of $3.65.

Moleculin Biotech (NASDAQ:MBRX) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.10). On average, sell-side analysts predict that Moleculin Biotech will post -7.98 earnings per share for the current fiscal year.

Insider Transactions at Moleculin Biotech

In related news, CEO Walter V. Klemp acquired 675,675 shares of the firm’s stock in a transaction on Monday, June 23rd. The shares were acquired at an average cost of $0.37 per share, for a total transaction of $249,999.75. Following the completion of the transaction, the chief executive officer directly owned 743,607 shares in the company, valued at approximately $275,134.59. This trade represents a 994.63% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jonathan P. Foster acquired 270,270 shares of the stock in a transaction dated Monday, June 23rd. The stock was bought at an average cost 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 approximately $106,407.19. The trade was a 1,560.72% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.10% of the stock is currently owned by company insiders.

Institutional Trading of Moleculin Biotech

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC increased its stake in Moleculin Biotech, Inc. (NASDAQ:MBRX) by 293.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,250,000 shares of the company’s stock after buying an additional 932,414 shares during the quarter. Armistice Capital LLC owned about 8.93% of Moleculin Biotech worth $1,217,000 as of its most recent SEC filing. Institutional investors and hedge funds own 15.52% of the company’s stock.

About Moleculin Biotech

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.