MBX Biosciences (NASDAQ:MBX) Posts Quarterly Earnings Results, Beats Expectations By $0.10 EPS

MBX Biosciences (NASDAQ:MBX) announced its quarterly earnings data on Thursday. The company reported ($0.63) EPS for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.10, Zacks reports.

MBX Biosciences Price Performance

Shares of MBX traded up $0.83 during trading hours on Friday, hitting $25.57. The stock had a trading volume of 907,492 shares, compared to its average volume of 959,151. The stock has a market capitalization of $859.00 million, a PE ratio of -10.70 and a beta of 1.20. The company’s fifty day moving average price is $15.82. MBX Biosciences has a 52 week low of $4.81 and a 52 week high of $26.47.

Analysts Set New Price Targets

MBX has been the subject of a number of research reports. Wall Street Zen raised shares of MBX Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of MBX Biosciences in a research report on Wednesday, October 8th. Oppenheimer began coverage on MBX Biosciences in a research note on Wednesday, July 16th. They issued an “outperform” rating and a $38.00 target price on the stock. TD Cowen initiated coverage on MBX Biosciences in a research note on Tuesday. They set a “buy” rating for the company. Finally, Cowen began coverage on shares of MBX Biosciences in a report on Tuesday. They set a “buy” rating for the company. Nine analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, MBX Biosciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.00.

Insider Buying and Selling at MBX Biosciences

In other news, CEO P. Kent Hawryluk bought 20,000 shares of the business’s stock in a transaction dated Monday, October 20th. The stock was bought at an average price of $13.64 per share, for a total transaction of $272,800.00. Following the completion of the purchase, the chief executive officer owned 468,277 shares of the company’s stock, valued at approximately $6,387,298.28. The trade was a 4.46% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Patrick J. Heron purchased 666,666 shares of the firm’s stock in a transaction that occurred on Friday, September 26th. The shares were acquired at an average price of $18.00 per share, for a total transaction of $11,999,988.00. Following the completion of the transaction, the director 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 disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 706,666 shares of company stock worth $12,537,788 over the last ninety days. Corporate insiders own 52.19% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in MBX Biosciences by 60.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,677,362 shares of the company’s stock valued at $29,354,000 after buying an additional 633,678 shares during the last quarter. MPM Bioimpact LLC lifted its stake in shares of MBX Biosciences by 14.3% during the second quarter. MPM Bioimpact LLC now owns 1,294,416 shares of the company’s stock valued at $14,769,000 after acquiring an additional 161,466 shares during the period. Geode Capital Management LLC boosted its holdings in MBX Biosciences by 27.0% in the second quarter. Geode Capital Management LLC now owns 348,447 shares of the company’s stock valued at $3,976,000 after acquiring an additional 73,989 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in MBX Biosciences by 73.8% in the second quarter. The Manufacturers Life Insurance Company now owns 87,097 shares of the company’s stock worth $994,000 after purchasing an additional 36,987 shares during the period. Finally, Bridgeway Capital Management LLC bought a new stake in MBX Biosciences during the 2nd quarter worth about $333,000.

MBX Biosciences Company Profile

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.