MBX Biosciences (NASDAQ:MBX) Trading 7.6% Higher – Time to Buy?

MBX Biosciences, Inc. (NASDAQ:MBX) was up 7.6% during trading on Monday . The company traded as high as $33.63 and last traded at $34.0670. Approximately 68,462 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 516,878 shares. The stock had previously closed at $31.66.

Wall Street Analyst Weigh In

MBX has been the subject of several recent analyst reports. Citigroup reaffirmed an “outperform” rating on shares of MBX Biosciences in a research report on Monday, September 22nd. TD Cowen began coverage on MBX Biosciences in a research report on Tuesday, November 4th. They issued a “buy” rating on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of MBX Biosciences in a research note on Wednesday, October 8th. Truist Financial started coverage on MBX Biosciences in a research note on Wednesday, October 15th. They issued a “buy” rating and a $50.00 price target for the company. Finally, UBS Group assumed coverage on MBX Biosciences in a report on Wednesday, January 7th. They set a “buy” rating and a $60.00 price target on the stock. Eleven analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $47.22.

MBX Biosciences Trading Up 15.2%

The stock’s fifty day simple moving average is $29.17. The firm has a market cap of $1.64 billion, a P/E ratio of -15.26 and a beta of 0.86.

MBX Biosciences (NASDAQ:MBX) last issued 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 Transactions at MBX Biosciences

In other news, CEO P. Kent Hawryluk purchased 20,000 shares of the company’s stock in a transaction dated Monday, October 20th. The shares were acquired at an average price of $13.64 per share, with a total value of $272,800.00. Following the transaction, the chief executive officer owned 468,277 shares of the company’s stock, valued at $6,387,298.28. This represents a 4.46% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven L. Hoerter acquired 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, with a total value of $265,000.00. Following the completion of the acquisition, the director directly owned 20,000 shares of the company’s stock, valued at $265,000. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing.

Institutional Investors Weigh In On MBX Biosciences

Institutional investors have recently bought and sold shares of the company. Virtus Investment Advisers LLC boosted its position in shares of MBX Biosciences by 9.6% in the 2nd quarter. Virtus Investment Advisers LLC now owns 8,772 shares of the company’s stock worth $100,000 after purchasing an additional 766 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in MBX Biosciences by 4,131.4% in the third quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company’s stock worth $26,000 after acquiring an additional 1,446 shares in the last quarter. BNP Paribas Financial Markets grew 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 worth $51,000 after acquiring an additional 1,567 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of MBX Biosciences during the third quarter worth about $27,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of MBX Biosciences by 40.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,329 shares of the company’s stock valued at $106,000 after acquiring an additional 2,682 shares in the last quarter.

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.