MBX Biosciences (NYSE:MBX) Shares Gap Up – Still a Buy?

MBX Biosciences, Inc. (NYSE:MBX)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $17.61, but opened at $18.33. MBX Biosciences shares last traded at $17.95, with a volume of 7,933 shares changing hands.

Analyst Upgrades and Downgrades

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

MBX Biosciences Stock Performance

The business has a 50-day moving average of $22.83.

MBX Biosciences (NYSE:MBX) last posted its earnings results on Thursday, November 7th. The company reported ($2.78) earnings per share for the quarter, missing the consensus estimate of ($2.72) by ($0.06). On average, equities analysts anticipate that MBX Biosciences, Inc. will post -13.21 EPS for the current fiscal year.

Insider Activity

In other MBX Biosciences news, major shareholder Life Sciences X. L.P. Frazier bought 625,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were bought at an average price of $16.00 per share, for a total transaction of $10,000,000.00. Following the completion of the acquisition, the insider now owns 4,552,774 shares of the company’s stock, valued at approximately $72,844,384. This trade represents a 15.91 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Edward T. Mathers bought 500,000 shares of the stock in a transaction dated Monday, September 16th. The stock was acquired at an average price of $16.00 per share, with a total value of $8,000,000.00. Following the completion of the purchase, the director now owns 3,614,486 shares of the company’s stock, valued at $57,831,776. This represents a 16.05 % increase in their position. The disclosure for this purchase can be found here.

Institutional Investors Weigh In On MBX Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of MBX Biosciences during the third quarter valued at approximately $278,000. Point72 Asset Management L.P. acquired a new position in shares of MBX Biosciences during the 3rd quarter worth about $405,000. Barclays PLC acquired a new stake in shares of MBX Biosciences in the 3rd quarter valued at approximately $426,000. Geode Capital Management LLC bought a new position in MBX Biosciences during the 3rd quarter worth approximately $579,000. Finally, Point72 DIFC Ltd acquired a new position in MBX Biosciences during the third quarter valued at approximately $624,000.

MBX Biosciences Company Profile

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.