MBX Biosciences (NYSE:MBX) Shares Up 7.2% – Should You Buy?

MBX Biosciences, Inc. (NYSE:MBX)’s share price rose 7.2% on Wednesday . The company traded as high as $23.25 and last traded at $23.20. Approximately 107,816 shares were traded during trading, a decline of 16% from the average daily volume of 127,734 shares. The stock had previously closed at $21.65.

Analyst Upgrades and Downgrades

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

MBX Biosciences Stock Performance

The stock’s 50-day moving average is $21.49.

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

Insider Transactions at MBX Biosciences

In other MBX Biosciences news, major shareholder Life Sciences X. L.P. Frazier bought 625,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was bought at an average price of $16.00 per share, for a total transaction of $10,000,000.00. Following the completion of the acquisition, the insider now directly owns 4,552,774 shares in the company, valued at $72,844,384. The trade was a 15.91 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Edward T. Mathers acquired 500,000 shares of MBX Biosciences stock in a transaction on Monday, September 16th. The shares were bought at an average cost of $16.00 per share, for a total transaction of $8,000,000.00. Following the completion of the transaction, the director now owns 3,614,486 shares in the company, valued at approximately $57,831,776. This trade represents a 16.05 % increase in their position. The disclosure for this purchase can be found here.

Hedge Funds Weigh In On MBX Biosciences

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