MBX Biosciences (NYSE:MBX) Stock Price Down 6.6% – Should You Sell?

MBX Biosciences, Inc. (NYSE:MBX)’s share price was down 6.6% during trading on Friday . The company traded as low as $16.50 and last traded at $17.04. Approximately 74,612 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 165,992 shares. The stock had previously closed at $18.25.

Wall Street Analysts Forecast Growth

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

MBX Biosciences Price Performance

The business’s 50-day moving average is $20.35.

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

Institutional Investors Weigh In On MBX Biosciences

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

About MBX Biosciences

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.