Moleculin Biotech (MBRX) Cut to Hold at Zacks Investment Research

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Moleculin Biotech (NASDAQ:MBRX) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday.

According to Zacks, “Moleculin Biotech, Inc. is a preclinical and clinical-stage pharmaceutical company which focused on the development of anti-cancer drug candidates. The company’s lead product candidate is Annamycin, a Phase II clinical stage anthracycline for the treatment of relapsed or refractory acute myeloid leukemia. Moleculin Biotech, Inc. is based in Houston, TX. “

Other equities research analysts have also issued research reports about the company. ValuEngine upgraded Moleculin Biotech from a “hold” rating to a “buy” rating in a research report on Thursday, January 10th. Maxim Group reiterated a “buy” rating and issued a $3.00 target price on shares of Moleculin Biotech in a research report on Wednesday, January 9th. Finally, Roth Capital set a $8.00 target price on Moleculin Biotech and gave the company a “buy” rating in a research report on Friday, December 14th.

MBRX opened at $1.49 on Thursday. Moleculin Biotech has a 52-week low of $0.93 and a 52-week high of $3.34. The stock has a market cap of $40.20 million, a PE ratio of -3.17 and a beta of 1.85.

Moleculin Biotech (NASDAQ:MBRX) last posted its quarterly earnings data on Tuesday, November 13th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.05. Sell-side analysts forecast that Moleculin Biotech will post -0.46 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of MBRX. Bank of New York Mellon Corp purchased a new stake in Moleculin Biotech in the fourth quarter valued at approximately $36,000. Northern Trust Corp boosted its position in Moleculin Biotech by 109.1% in the fourth quarter. Northern Trust Corp now owns 47,918 shares of the company’s stock valued at $50,000 after buying an additional 25,000 shares during the last quarter. Finally, Taylor Cottrill Erickson & Associates Inc. boosted its position in Moleculin Biotech by 25.5% in the fourth quarter. Taylor Cottrill Erickson & Associates Inc. now owns 121,781 shares of the company’s stock valued at $127,000 after buying an additional 24,781 shares during the last quarter. Hedge funds and other institutional investors own 4.83% of the company’s stock.

About Moleculin Biotech

Moleculin Biotech, Inc, a clinical-stage pharmaceutical company, focuses on the development of oncology drug candidates. Its lead drug candidate is liposomal Annamycin, an anthracycline intended for the treatment of relapsed or refractory acute myeloid leukemia (AML). The company also develops WP1066 Portfolio, an immuno-stimulating STAT3 inhibitor for the treatment of brain tumors, pancreatic cancer, and AML; and WP1122 Portfolio and related molecules for the treatment of glioblastoma multiforme and related central nervous system malignancies.

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