MBX Biosciences (NYSE:MBX) Shares Gap Down – Here’s Why

Shares of MBX Biosciences, Inc. (NYSE:MBX) gapped down prior to trading on Tuesday . The stock had previously closed at $16.42, but opened at $15.72. MBX Biosciences shares last traded at $17.08, with a volume of 5,571 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MBX shares. Jefferies Financial Group initiated coverage on MBX Biosciences in a report on Tuesday, October 8th. They set a “buy” rating and a $35.00 target price for the company. JPMorgan Chase & Co. began coverage on shares of MBX Biosciences in a report on Tuesday, October 8th. They set an “overweight” rating and a $30.00 target price for the company. Guggenheim assumed coverage on shares of MBX Biosciences in a research note on Tuesday, October 8th. They issued a “buy” rating and a $44.00 price target on the stock. Finally, Stifel Nicolaus started coverage on shares of MBX Biosciences in a research note on Tuesday, October 8th. They set a “buy” rating and a $40.00 price objective for the company.

MBX Biosciences Stock Up 1.9 %

The firm has a 50 day simple moving average of $22.54.

MBX Biosciences (NYSE:MBX) last released its quarterly earnings data on Thursday, November 7th. The company reported ($2.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.72) by ($0.06). Research analysts predict that MBX Biosciences, Inc. will post -13.21 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Life Sciences X. L.P. Frazier acquired 625,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were purchased at an average cost of $16.00 per share, for a total transaction of $10,000,000.00. Following the acquisition, the insider now owns 4,552,774 shares in the company, valued at $72,844,384. The trade was a 15.91 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward T. Mathers bought 500,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was bought at an average price of $16.00 per share, with a total value of $8,000,000.00. Following the acquisition, the director now directly owns 3,614,486 shares in the company, valued at $57,831,776. The trade was a 16.05 % increase in their position. The disclosure for this purchase can be found here.

Institutional Trading of MBX Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the business. Frazier Life Sciences Management L.P. purchased a new position in shares of MBX Biosciences in the third quarter valued at approximately $155,499,000. NEA Management Company LLC purchased a new position in MBX Biosciences in the 3rd quarter valued at approximately $93,904,000. Wellington Management Group LLP acquired a new position in shares of MBX Biosciences in the third quarter worth $74,261,000. RA Capital Management L.P. purchased a new stake in shares of MBX Biosciences during the third quarter worth $39,264,000. Finally, Maven Securities LTD purchased a new stake in shares of MBX Biosciences during the third quarter worth $1,299,000.

About MBX Biosciences

MBX Biosciences, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of precision peptide therapies for the treatment of endocrine and metabolic disorders. Its lead product candidate is MBX 2109, a parathyroid hormone peptide prodrug, which is in Phase 2 clinical trial designed as a potential long-acting hormone replacement therapy for the treatment of chronic hypoparathyroidism.