MBX Biosciences (NYSE:MBX) Shares Gap Down – Here’s What Happened

Shares of MBX Biosciences, Inc. (NYSE:MBX) gapped down before the market opened on Friday . The stock had previously closed at $19.29, but opened at $18.82. MBX Biosciences shares last traded at $20.35, with a volume of 11,997 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on MBX shares. Jefferies Financial Group assumed coverage on shares of MBX Biosciences in a research report on Tuesday, October 8th. They issued a “buy” rating and a $35.00 price objective on the stock. Stifel Nicolaus started coverage on MBX Biosciences in a report on Tuesday, October 8th. They issued a “buy” rating and a $40.00 price target for the company. JPMorgan Chase & Co. assumed coverage on shares of MBX Biosciences in a research note on Tuesday, October 8th. They issued an “overweight” rating and a $30.00 target price for the company. Finally, Guggenheim initiated coverage on shares of MBX Biosciences in a report on Tuesday, October 8th. They issued a “buy” rating and a $44.00 price target for the company.

MBX Biosciences Trading Up 6.0 %

The company’s fifty day moving average is $21.73.

MBX Biosciences (NYSE:MBX) last announced its earnings results on Thursday, November 7th. The company reported ($2.78) earnings per share for the quarter, missing the consensus estimate of ($2.72) by ($0.06). As a group, analysts predict that MBX Biosciences, Inc. will post -13.21 EPS for the current year.

Insider Activity at MBX Biosciences

In related news, Director Edward T. Mathers bought 500,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was purchased at an average price of $16.00 per share, for a total transaction of $8,000,000.00. Following the acquisition, the director now owns 3,614,486 shares of the company’s stock, valued at approximately $57,831,776. This trade represents a 16.05 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Life Sciences X. L.P. Frazier purchased 625,000 shares of the stock in a transaction dated Monday, September 16th. The shares were purchased at an average price of $16.00 per share, with a total value of $10,000,000.00. Following the completion of the transaction, the insider now owns 4,552,774 shares of the company’s stock, valued at approximately $72,844,384. This trade represents a 15.91 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in MBX Biosciences during the 3rd quarter worth approximately $278,000. Point72 Asset Management L.P. purchased a new stake in shares of MBX Biosciences during the third quarter worth $405,000. Barclays PLC purchased a new position in MBX Biosciences in the third quarter valued at $426,000. Geode Capital Management LLC acquired a new stake in MBX Biosciences in the 3rd quarter valued at about $579,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of MBX Biosciences during the third quarter worth approximately $624,000.

MBX Biosciences Company Profile

MBX Biosciences, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of precision peptide therapies for the treatment of endocrine and metabolic disorders. Its lead product candidate is MBX 2109, a parathyroid hormone peptide prodrug, which is in Phase 2 clinical trial designed as a potential long-acting hormone replacement therapy for the treatment of chronic hypoparathyroidism.