MBX Biosciences (NYSE:MBX) Trading 6.5% Higher – Still a Buy?

MBX Biosciences, Inc. (NYSE:MBX) shares traded up 6.5% on Friday . The stock traded as high as $18.19 and last traded at $17.59. 13,724 shares were traded during trading, a decline of 89% from the average session volume of 119,514 shares. The stock had previously closed at $16.51.

Wall Street Analysts Forecast Growth

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

MBX Biosciences Trading Up 4.4 %

The stock has a fifty day simple moving average of $22.28.

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

Insider Transactions at MBX Biosciences

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

Institutional Trading of MBX Biosciences

Several institutional investors have recently made changes to their positions in MBX. Frazier Life Sciences Management L.P. acquired a new stake in shares of MBX Biosciences during the 3rd quarter valued at about $155,499,000. NEA Management Company LLC acquired a new position in MBX Biosciences in the third quarter valued at about $93,904,000. Wellington Management Group LLP acquired a new position in MBX Biosciences in the third quarter valued at about $74,261,000. RA Capital Management L.P. acquired a new stake in shares of MBX Biosciences during the third quarter worth approximately $39,264,000. Finally, Maven Securities LTD bought a new position in shares of MBX Biosciences in the third quarter valued at approximately $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.