MBX Biosciences (NYSE:MBX) Shares Gap Up – Time to Buy?

MBX Biosciences, Inc. (NYSE:MBX)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $17.61, but opened at $18.33. MBX Biosciences shares last traded at $17.95, with a volume of 7,933 shares.

Analyst Upgrades and Downgrades

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

MBX Biosciences Trading Down 2.9 %

The firm’s 50-day moving average is $22.69.

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

Insiders Place Their Bets

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

Institutional Investors Weigh In On MBX Biosciences

Several hedge funds have recently added to or reduced their stakes in MBX. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of MBX Biosciences during the 3rd quarter valued at about $278,000. Point72 Asset Management L.P. purchased a new position in shares of MBX Biosciences during the third quarter worth approximately $405,000. Barclays PLC bought a new stake in shares of MBX Biosciences in the 3rd quarter worth approximately $426,000. Geode Capital Management LLC purchased a new stake in shares of MBX Biosciences in the 3rd quarter valued at $579,000. Finally, Point72 DIFC Ltd purchased a new stake in MBX Biosciences during the third quarter valued at about $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.