MBX Biosciences (NASDAQ:MBX) Stock Price Up 10.8% – Still a Buy?

MBX Biosciences, Inc. (NASDAQ:MBX) shares rose 10.8% during mid-day trading on Monday . The company traded as high as $33.18 and last traded at $33.7080. Approximately 213,439 shares changed hands during trading, a decline of 67% from the average daily volume of 639,821 shares. The stock had previously closed at $30.42.

Analysts Set New Price Targets

A number of research firms have issued reports on MBX. The Goldman Sachs Group initiated coverage on MBX Biosciences in a report on Thursday, December 4th. They set a “sell” rating and a $18.00 price target on the stock. Stifel Nicolaus raised their price target on shares of MBX Biosciences from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Friday. Wall Street Zen raised shares of MBX Biosciences from a “sell” rating to a “hold” rating in a research note on Sunday. TD Cowen assumed coverage on shares of MBX Biosciences in a research report on Tuesday, November 4th. They set a “buy” rating on the stock. Finally, Truist Financial assumed coverage on MBX Biosciences in a research report on Wednesday, October 15th. They issued a “buy” rating and a $50.00 target price for the company. Ten research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, MBX Biosciences currently has an average rating of “Moderate Buy” and a consensus price target of $45.63.

MBX Biosciences Stock Performance

The firm has a 50-day moving average of $24.66. The stock has a market capitalization of $1.57 billion, a PE ratio of -14.56 and a beta of 0.75.

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

Insider Buying and Selling

In other news, CEO P. Kent Hawryluk acquired 20,000 shares of the stock in a transaction dated Monday, October 20th. The stock was purchased at an average cost of $13.64 per share, with a total value of $272,800.00. Following the completion of the purchase, the chief executive officer owned 468,277 shares in the company, valued at approximately $6,387,298.28. The trade was a 4.46% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Patrick J. Heron purchased 666,666 shares of the business’s stock in a transaction that occurred on Friday, September 26th. The stock was bought at an average price of $18.00 per share, for a total transaction of $11,999,988.00. Following the acquisition, the director owned 5,219,440 shares of the company’s stock, valued at $93,949,920. This represents a 14.64% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 706,666 shares of company stock worth $12,537,788 in the last quarter.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MBX. FNY Investment Advisers LLC purchased a new stake in MBX Biosciences in the third quarter worth about $27,000. Hudson Bay Capital Management LP bought a new position in shares of MBX Biosciences during the 3rd quarter valued at approximately $1,488,000. Woodline Partners LP grew its stake in shares of MBX Biosciences by 33.3% in the 3rd quarter. Woodline Partners LP now owns 1,201,150 shares of the company’s stock worth $21,020,000 after buying an additional 300,047 shares in the last quarter. XTX Topco Ltd grew its position in MBX Biosciences by 223.6% in the third quarter. XTX Topco Ltd now owns 38,378 shares of the company’s stock worth $672,000 after acquiring an additional 26,517 shares in the last quarter. Finally, Baker BROS. Advisors LP purchased a new position in shares of MBX Biosciences in the 3rd quarter worth approximately $4,861,000.

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.