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

MBX Biosciences, Inc. (NASDAQ:MBX) shares gapped down before the market opened on Thursday . The stock had previously closed at $33.94, but opened at $28.97. MBX Biosciences shares last traded at $32.4040, with a volume of 970,385 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Citigroup reaffirmed an “outperform” rating on shares of MBX Biosciences in a report on Monday, September 22nd. Wall Street Zen raised shares of MBX Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. TD Cowen started coverage on shares of MBX Biosciences in a research report on Tuesday, November 4th. They set a “buy” rating for the company. Truist Financial started coverage on shares of MBX Biosciences in a report on Wednesday, October 15th. They issued a “buy” rating and a $50.00 target price on the stock. Finally, Cowen started coverage on MBX Biosciences in a research note on Tuesday, November 4th. They issued a “buy” rating for the company. Nine research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.00.

MBX Biosciences Trading Up 4.7%

The firm has a 50-day moving average price of $22.16. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of -13.38 and a beta of 0.75.

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

Insider Buying and Selling

In other MBX Biosciences news, Director Patrick J. Heron bought 666,666 shares of the stock in a transaction that occurred on Friday, September 26th. The shares were purchased at an average cost of $18.00 per share, for a total transaction of $11,999,988.00. Following the transaction, the director directly owned 5,219,440 shares in the company, valued at $93,949,920. The trade was a 14.64% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven L. Hoerter bought 20,000 shares of the business’s stock in a transaction on Friday, October 17th. The shares were acquired at an average cost of $13.25 per share, for a total transaction of $265,000.00. Following the purchase, the director directly owned 20,000 shares in the company, valued at $265,000. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 706,666 shares of company stock valued at $12,537,788 in the last three months. 52.19% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MBX Biosciences

Several institutional investors have recently bought and sold shares of MBX. Russell Investments Group Ltd. increased its stake in MBX Biosciences by 4,131.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company’s stock valued at $26,000 after buying an additional 1,446 shares during the period. BNP Paribas Financial Markets increased its stake in shares of MBX Biosciences by 117.9% during the third quarter. BNP Paribas Financial Markets now owns 2,896 shares of the company’s stock valued at $51,000 after acquiring an additional 1,567 shares during the period. China Universal Asset Management Co. Ltd. bought a new stake in MBX Biosciences during the third quarter worth approximately $88,000. Deutsche Bank AG raised its holdings in 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 purchasing an additional 4,424 shares in the last quarter. Finally, Virtus Investment Advisers LLC lifted its position in MBX Biosciences by 9.6% in the second quarter. Virtus Investment Advisers LLC now owns 8,772 shares of the company’s stock worth $100,000 after purchasing an additional 766 shares during the period.

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.