Moleculin Biotech (NASDAQ:MBRX) Shares Scheduled to Reverse Split on Monday, December 1st

Moleculin Biotech, Inc. (NASDAQ:MBRX) shares are scheduled to reverse split on Monday, December 1st. The 1-25 reverse split was announced on Wednesday, November 26th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, November 28th.

Moleculin Biotech Price Performance

MBRX opened at $0.28 on Thursday. The business has a fifty day simple moving average of $0.46 and a 200 day simple moving average of $0.56. Moleculin Biotech has a 1 year low of $0.25 and a 1 year high of $3.65. The company has a market capitalization of $14.25 million, a PE ratio of -0.21 and a beta of 1.57.

Moleculin Biotech (NASDAQ:MBRX) last announced its earnings results on Thursday, November 13th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.07. Equities analysts anticipate that Moleculin Biotech will post -7.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MBRX has been the topic of several recent analyst reports. Wall Street Zen lowered Moleculin Biotech to a “strong sell” rating in a research note on Friday, October 3rd. HC Wainwright reiterated a “buy” rating and issued a $4.00 target price on shares of Moleculin Biotech in a research report on Wednesday, September 10th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Moleculin Biotech in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Moleculin Biotech presently has a consensus rating of “Hold” and a consensus target price of $4.00.

Institutional Investors Weigh In On Moleculin Biotech

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC boosted its stake in Moleculin Biotech, Inc. (NASDAQ:MBRX) by 293.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,250,000 shares of the company’s stock after purchasing 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 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.