Moleculin Biotech (NASDAQ:MBRX) Stock Price Passes Below 50-Day Moving Average – Here’s Why

Shares of Moleculin Biotech, Inc. (NASDAQ:MBRX) crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $1.09 and traded as low as $0.80. Moleculin Biotech shares last traded at $0.85, with a volume of 231,017 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MBRX. HC Wainwright restated a “buy” rating and set a $8.00 price target on shares of Moleculin Biotech in a research note on Monday, March 24th. Maxim Group raised shares of Moleculin Biotech from a “hold” rating to a “buy” rating and set a $4.00 price target for the company in a research report on Tuesday, March 25th. Finally, StockNews.com raised shares of Moleculin Biotech to a “sell” rating in a report on Wednesday, March 26th.

Moleculin Biotech Stock Up 2.4 %

The firm has a 50 day simple moving average of $1.09 and a 200-day simple moving average of $1.82.

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.