MBX Biosciences (NASDAQ:MBX) Sees Large Volume Increase – What’s Next?

MBX Biosciences, Inc. (NASDAQ:MBX) saw unusually-high trading volume on Thursday . Approximately 822,333 shares traded hands during trading, an increase of 34% from the previous session’s volume of 614,322 shares.The stock last traded at $33.3220 and had previously closed at $30.99.

Analyst Ratings Changes

MBX has been the subject of a number of recent research reports. Citigroup reissued an “outperform” rating on shares of MBX Biosciences in a research report on Tuesday, May 12th. Lifesci Capital raised shares of MBX Biosciences to a “strong-buy” rating in a research report on Tuesday, March 31st. Barclays raised their price target on shares of MBX Biosciences from $66.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Stifel Nicolaus set a $56.00 target price on shares of MBX Biosciences in a report on Tuesday, May 12th. Finally, Citizens Jmp lifted their target price on shares of MBX Biosciences from $76.00 to $86.00 and gave the company a “market outperform” rating in a report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, MBX Biosciences has an average rating of “Moderate Buy” and an average target price of $60.22.

MBX Biosciences Trading Up 14.5%

The stock has a market capitalization of $1.69 billion, a PE ratio of -16.06 and a beta of 0.75. The firm’s fifty day moving average price is $32.28 and its two-hundred day moving average price is $32.88.

MBX Biosciences (NASDAQ:MBX) last posted its earnings results on Thursday, March 12th. The company reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($0.64) by $0.15. As a group, sell-side analysts anticipate that MBX Biosciences, Inc. will post -2.84 earnings per share for the current fiscal year.

Insider Buying and Selling at MBX Biosciences

In related news, CEO P. Kent Hawryluk purchased 18,500 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The shares were purchased at an average price of $28.41 per share, with a total value of $525,585.00. Following the purchase, the chief executive officer owned 486,777 shares of the company’s stock, valued at $13,829,334.57. The trade was a 3.95% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 52.19% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MBX Biosciences

A number of institutional investors have recently added to or reduced their stakes in the stock. CWM LLC grew its stake in MBX Biosciences by 28.9% in the 4th quarter. CWM LLC now owns 1,784 shares of the company’s stock valued at $56,000 after acquiring an additional 400 shares during the period. Royal Bank of Canada grew its stake in MBX Biosciences by 59.6% in the 4th quarter. Royal Bank of Canada now owns 1,532 shares of the company’s stock valued at $49,000 after acquiring an additional 572 shares during the period. California State Teachers Retirement System grew its stake in MBX Biosciences by 64.7% in the 4th quarter. California State Teachers Retirement System now owns 1,754 shares of the company’s stock valued at $55,000 after acquiring an additional 689 shares during the period. GF Fund Management CO. LTD. acquired a new stake in MBX Biosciences in the 4th quarter valued at $28,000. Finally, Strs Ohio grew its stake in MBX Biosciences by 128.6% in the 1st quarter. Strs Ohio now owns 1,600 shares of the company’s stock valued at $48,000 after acquiring an additional 900 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.