MBX Biosciences (NASDAQ:MBX) Shares Up 8.5% – What’s Next?

MBX Biosciences, Inc. (NASDAQ:MBX) shares rose 8.5% during mid-day trading on Tuesday . The stock traded as high as $29.47 and last traded at $29.2150. Approximately 131,286 shares traded hands during trading, a decline of 79% from the average daily volume of 628,158 shares. The stock had previously closed at $26.92.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MBX shares. Guggenheim lifted their price objective on MBX Biosciences from $77.00 to $88.00 and gave the stock a “buy” rating in a report on Friday, January 16th. Barclays began coverage on MBX Biosciences in a report on Tuesday, January 27th. They set an “overweight” rating and a $66.00 target price for the company. Truist Financial set a $50.00 target price on MBX Biosciences in a research report on Monday, March 9th. TD Cowen reiterated a “buy” rating on shares of MBX Biosciences in a research report on Thursday, March 12th. Finally, UBS Group reaffirmed a “buy” rating on shares of MBX Biosciences in a research note on Tuesday, February 24th. Ten research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.56.

MBX Biosciences Stock Performance

The business has a 50-day simple moving average of $34.04 and a 200-day simple moving average of $27.92. The company has a market cap of $1.41 billion, a price-to-earnings ratio of -12.37 and a beta of 1.07.

MBX Biosciences (NASDAQ:MBX) last announced its quarterly earnings results on Thursday, March 12th. The company reported ($0.49) EPS for the quarter, beating the consensus estimate of ($0.64) by $0.15.

Insider Activity at MBX Biosciences

In other MBX Biosciences news, CEO P. Kent Hawryluk bought 18,500 shares of the business’s stock in a transaction dated Friday, March 13th. The stock was acquired at an average cost of $28.41 per share, with a total value of $525,585.00. Following the purchase, the chief executive officer owned 486,777 shares in the company, valued at approximately $13,829,334.57. This represents a 3.95% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP grew its stake in MBX Biosciences by 112.8% during the third quarter. Wellington Management Group LLP now owns 4,823,336 shares of the company’s stock worth $84,408,000 after buying an additional 2,556,708 shares during the period. Braidwell LP acquired a new stake in MBX Biosciences in the fourth quarter valued at approximately $32,127,000. Deep Track Capital LP raised its stake in shares of MBX Biosciences by 43.9% during the third quarter. Deep Track Capital LP now owns 3,150,000 shares of the company’s stock valued at $55,125,000 after purchasing an additional 961,408 shares during the period. Eventide Asset Management LLC purchased a new position in shares of MBX Biosciences in the fourth quarter valued at $28,071,000. Finally, Franklin Resources Inc. grew its holdings in MBX Biosciences by 164.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,307,288 shares of the company’s stock valued at $22,878,000 after purchasing an additional 812,436 shares in the last quarter.

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.