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

MBX Biosciences, Inc. (NYSE:MBX) shares gapped down prior to trading 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.

Analyst Upgrades and Downgrades

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

MBX Biosciences Stock Performance

The business has a fifty day moving average of $21.73.

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

Insiders Place Their Bets

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

Institutional Trading of MBX Biosciences

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