The stock of Moleculin Biotech Inc (NASDAQ:MBRX) hit a new 52-week low and has $2.16 target or 11.00% below today’s $2.43 share price. The 8 months bearish chart indicates high risk for the $24.91 million company. The 1-year low was reported on Oct, 18 by Barchart.com. If the $2.16 price target is reached, the company will be worth $2.74 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 21,026 shares traded hands. Moleculin Biotech Inc (NASDAQ:MBRX) has risen 6.00% since September 18, 2016 and is uptrending. It has outperformed by 0.52% the S&P500.
Analysts await Moleculin Biotech Inc (NASDAQ:MBRX) to report earnings on November, 21.
According to Zacks Investment Research, “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.”
More notable recent Moleculin Biotech Inc (NASDAQ:MBRX) news were published by: Quotes.Wsj.com which released: “News Moleculin Biotech Inc.MBRX” on February 11, 2011, also Marketwired.com with their article: “Moleculin Biotech, Inc. Completes Initial Public Offering; MBRX Shares Set to …” published on June 01, 2016, Marketwired.com published: “Moleculin Biotech, Inc. Announces Acquisition of Annamycin Rights” on October 28, 2015. More interesting news about Moleculin Biotech Inc (NASDAQ:MBRX) were released by: Marketwatch.com and their article: “/quotes/zigman/3870025/realtime” published on June 02, 2016 as well as Marketwired.com‘s news article titled: “Moleculin Biotech, Inc. Reports Financial Results for the Second Quarter Ended …” with publication date: August 15, 2016.
MBRX Company Profile
Moleculin Biotech, Inc. is a preclinical and clinical-stage pharmaceutical company. The Firm is focused on the development of anti-cancer drug candidates, many of which are based on license agreements. The Company’s lead drug candidate is liposomal Annamycin (Annamycin). The Firm has two other drug development projects in progress, one involving a portfolio of small molecules, known as the WP1066 Portfolio, and the other is WP1122 Portfolio. WP1066 Portfolio is focused on the modulation of key regulatory transcription factors involved in the progression of cancer. WP1122 Portfolio is a suite of molecules targeting the metabolic processes involved in cancer in general and glioblastoma (a form of brain tumor).
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