MBX Biosciences (NASDAQ:MBX) Price Target Lowered to $77.00 at Guggenheim

MBX Biosciences (NASDAQ:MBX) had its price objective dropped by Guggenheim from $84.00 to $77.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s price objective indicates a potential upside of 210.99% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. Wall Street Zen upgraded shares of MBX Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. TD Cowen assumed coverage on MBX Biosciences in a report on Tuesday, November 4th. They set a “buy” rating on the stock. Truist Financial initiated coverage on MBX Biosciences in a research note on Wednesday, October 15th. They issued a “buy” rating and a $50.00 target price for the company. Oppenheimer assumed coverage on shares of MBX Biosciences in a report on Wednesday, July 16th. They issued an “outperform” rating and a $38.00 price target on the stock. Finally, Cowen started coverage on shares of MBX Biosciences in a report on Tuesday, November 4th. They set a “buy” rating for the company. Nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, MBX Biosciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.50.

MBX Biosciences Price Performance

Shares of NASDAQ:MBX traded down $0.81 during trading on Monday, reaching $24.76. The stock had a trading volume of 199,220 shares, compared to its average volume of 611,991. The firm’s fifty day moving average is $15.82. The stock has a market capitalization of $831.69 million, a price-to-earnings ratio of -10.42 and a beta of 1.19. MBX Biosciences has a 52 week low of $4.81 and a 52 week high of $26.47.

MBX Biosciences (NASDAQ:MBX) last released its earnings results on Thursday, November 6th. The company reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.10.

Insider Transactions at MBX Biosciences

In related news, Director Patrick J. Heron purchased 666,666 shares of the firm’s stock in a transaction dated Friday, September 26th. The shares were acquired at an average cost of $18.00 per share, with a total value of $11,999,988.00. Following the completion of the purchase, the director directly owned 5,219,440 shares of the company’s stock, valued at $93,949,920. This trade represents a 14.64% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven L. Hoerter purchased 20,000 shares of the firm’s stock in a transaction that occurred on Friday, October 17th. The stock was purchased at an average price of $13.25 per share, for a total transaction of $265,000.00. Following the acquisition, the director owned 20,000 shares of the company’s stock, valued at $265,000. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have purchased 706,666 shares of company stock worth $12,537,788.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. New York State Common Retirement Fund bought a new position in shares of MBX Biosciences during the 1st quarter valued at about $32,000. TD Asset Management Inc lifted its stake in MBX Biosciences by 313.9% in the first quarter. TD Asset Management Inc now owns 151,504 shares of the company’s stock valued at $1,118,000 after buying an additional 114,904 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of MBX Biosciences by 1.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 94,546 shares of the company’s stock worth $698,000 after acquiring an additional 1,235 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of MBX Biosciences by 102.0% during the first quarter. Deutsche Bank AG now owns 8,762 shares of the company’s stock worth $65,000 after acquiring an additional 4,424 shares during the period. Finally, Koa Wealth Management LLC acquired a new position in MBX Biosciences in the 1st quarter worth $143,000.

About MBX Biosciences

We are a clinical-stage biopharmaceutical company focused on the discovery and development of novel precision peptide therapies for the treatment of endocrine and metabolic disorders. Our company was founded by global leaders with a transformative approach to peptide drug design and development. Leveraging this expertise, we designed our proprietary Precision Endocrine Peptide™, or PEPTM, platform to overcome the key limitations of unmodified and modified peptide therapies and to improve clinical outcomes and simplify disease management for patients.