MBX Biosciences (NASDAQ:MBX) Shares Climb 5.2% – What’s Next?

Shares of MBX Biosciences, Inc. (NASDAQ:MBX) shot up 5.2% during trading on Tuesday. The stock traded as high as $57.96 and last traded at $56.8950. 170,981 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 636,799 shares. The stock had previously closed at $54.06.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Barclays restated an “overweight” rating and issued a $88.00 price target on shares of MBX Biosciences in a research note on Friday, August 7th. Citigroup reiterated a “market outperform” rating on shares of MBX Biosciences in a research note on Tuesday, October 27th. UBS Group reiterated a “buy” rating on shares of MBX Biosciences in a report on Monday, September 28th. Truist Financial boosted their target price on MBX Biosciences from $70.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Finally, Stifel Nicolaus upped their price target on MBX Biosciences from $70.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $87.30.

MBX Biosciences Trading Up 2.5%

The firm’s fifty day simple moving average is $56.02 and its 200 day simple moving average is $46.20. The company has a market cap of $2.87 billion, a price-to-earnings ratio of -18.80 and a beta of 0.17.

MBX Biosciences (NASDAQ:MBX) last announced its quarterly earnings data on Monday, November 9th. The company reported ($1.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.49). As a group, sell-side analysts expect that MBX Biosciences, Inc. will post -3.10 EPS for the current year.

Insiders Place Their Bets

In other MBX Biosciences news, CEO Steven Hoerter sold 4,893 shares of the firm’s stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $54.82, for a total value of $268,234.26. Following the sale, the chief executive officer directly owned 78,045 shares in the company, valued at $4,278,426.90. This trade represents a 5.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 31.09% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. State of Wyoming acquired a new stake in MBX Biosciences during the 2nd quarter worth $58,000. Sterling Capital Management LLC boosted its position in shares of MBX Biosciences by 847.7% in the 3rd quarter. Sterling Capital Management LLC now owns 1,033 shares of the company’s stock valued at $61,000 after purchasing an additional 924 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of MBX Biosciences in the 3rd quarter valued at about $144,000. Quantbot Technologies LP acquired a new stake in shares of MBX Biosciences in the 2nd quarter valued at about $213,000. Finally, Sei Investments Co. grew its stake in MBX Biosciences by 17.4% during the 1st quarter. Sei Investments Co. now owns 8,989 shares of the company’s stock worth $268,000 after buying an additional 1,332 shares during the last quarter.

MBX Biosciences Company Profile

MBX Biosciences, Inc. is a clinical-stage biopharmaceutical company developing peptide-based treatments for endocrine and metabolic disorders. The company’s research focuses on conditions in which naturally occurring hormones are deficient or do not function adequately. MBX uses its Precision Endocrine Peptide (PEP) platform to design peptide medicines intended to provide more durable hormone activity. Its lead candidate, MBX 2109, is being developed as a long-acting parathyroid hormone replacement therapy for people with chronic hypoparathyroidism.