MBX Biosciences (NYSE:MBX) Shares Gap Down – What’s Next?

MBX Biosciences, Inc. (NYSE:MBX) gapped down prior to trading on Tuesday . The stock had previously closed at $16.42, but opened at $15.72. MBX Biosciences shares last traded at $17.08, with a volume of 5,571 shares changing hands.

Analysts Set New Price Targets

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

MBX Biosciences Stock Down 2.5 %

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

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

Insider Transactions at MBX Biosciences

In other MBX Biosciences news, major shareholder Life Sciences X. L.P. Frazier purchased 625,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were purchased at an average cost of $16.00 per share, for a total transaction of $10,000,000.00. Following the completion of the purchase, the insider now directly owns 4,552,774 shares in the company, valued at $72,844,384. This represents a 15.91 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward T. Mathers acquired 500,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were acquired at an average cost of $16.00 per share, for a total transaction of $8,000,000.00. Following the acquisition, the director now directly 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 disclosure for this purchase can be found here.

Hedge Funds Weigh In On MBX Biosciences

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