MBX Biosciences (NYSE:MBX) Trading 4.6% Higher – Here’s Why

MBX Biosciences, Inc. (NYSE:MBX) rose 4.6% on Tuesday . The stock traded as high as $20.74 and last traded at $20.02. Approximately 19,745 shares changed hands during trading, a decline of 85% from the average daily volume of 131,484 shares. The stock had previously closed at $19.14.

Analysts Set New Price Targets

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

MBX Biosciences Stock Up 4.5 %

The company has a 50-day moving average price of $21.29.

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

Institutional Inflows and Outflows

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