Moleculin Biotech, Inc. (NASDAQ:MBRX) is one of the best performers on the stock market today. At current price of $1.32, the shares have already added 0.08 points (6.67% higher) from its previous close of $1.24. Should you buy or avoid them? The stock sets an active trading volume day with a reported 628558 contracts so far this session. MBRX shares had a relatively better volume day versus average trading capacity of 3.77 million shares, but with a 38.28 million float and a 0% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for MBRX stock indicates that the average analyst price target is $5.5 per share. This means the stock has a potential increase of 316.67% from where the MBRX share price has been trading recently.
The shorts are running away from Moleculin Biotech, Inc. (MBRX) stock. The latest set of short interest data was released on 28 June 2019, and the numbers show a drop in short interest in MBRX shares. While short interest still represents only 6.87% of MBRX’s float, the number of shares shorted have fallen by -84899. The number of shares shorted fell to 2543622 shares, down from 2628521 shares during the preceding fortnight. With average daily trading volumes at 351353 shares, days to cover decreased to about 8.914048 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Moleculin Files New Patents for Cancer Candidate Annamycin” and dated July 11, 2019.
During the recent trading session for Moleculin Biotech, Inc. (NASDAQ:MBRX), the company witnessed their stock rise $0.08 over a week and surge $0.12 from the price 20 days ago. When compared to their established 52-week high of $3.15, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 04/22/19. The recent low of $0.78 stood for a -58.01% since 01/04/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Moleculin Biotech, Inc., the two-week RSI stands at 61.66. This figure suggests that MBRX stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current MBRX readings is similarly very revealing as it has a stochastic reading of 38.13% at this stage. This figure means that MBRX share price today is being neutral.
Technical chart claims that Moleculin Biotech, Inc. (MBRX) would settle between $1.29/share to $1.33/share level. However, if the stock price goes below the $1.2 mark, then the market for Moleculin Biotech, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $1.15 for its downside target.
Analysts at ROTH Capital, assumed coverage of MBRX assigning Buy rating, according to their opinion released on December 20.
MBRX equity has an average rating of 2, with the figure leaning towards a bullish end. 2 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 2 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 2 analysts rated Moleculin Biotech, Inc. (NASDAQ:MBRX) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.