MBX Biosciences (NASDAQ:MBX) Trading Down 5.2% – What’s Next?

MBX Biosciences, Inc. (NASDAQ:MBX)’s share price traded down 5.2% during mid-day trading on Monday . The company traded as low as $28.77 and last traded at $28.72. 247,406 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 610,396 shares. The stock had previously closed at $30.28.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. UBS Group reiterated a “buy” rating on shares of MBX Biosciences in a research report on Tuesday, February 24th. Truist Financial lifted their target price on MBX Biosciences from $50.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Wall Street Zen cut MBX Biosciences from a “hold” rating to a “sell” rating in a research report on Sunday, May 17th. Lifesci Capital raised MBX Biosciences to a “strong-buy” rating in a research note on Tuesday, March 31st. Finally, Stifel Nicolaus set a $56.00 price target on MBX Biosciences in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $60.22.

MBX Biosciences Trading Down 4.0%

The company’s 50-day simple moving average is $32.16 and its 200-day simple moving average is $32.82. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of -13.15 and a beta of 0.75.

MBX Biosciences (NASDAQ:MBX) last announced its quarterly earnings results on Thursday, March 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.64) by $0.15. On average, equities research analysts expect that MBX Biosciences, Inc. will post -2.84 earnings per share for the current fiscal year.

Insider Transactions at MBX Biosciences

In related news, CEO P. Kent Hawryluk bought 18,500 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The shares were acquired at an average cost of $28.41 per share, with a total value of $525,585.00. Following the completion of the purchase, the chief executive officer directly owned 486,777 shares in the company, valued at $13,829,334.57. The trade was a 3.95% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Hudson Bay Capital Management LP acquired a new position in shares of MBX Biosciences during the third quarter worth approximately $1,488,000. Ghisallo Capital Management LLC purchased a new stake in MBX Biosciences in the 3rd quarter valued at $669,000. Aaron Wealth Advisors LLC raised its position in MBX Biosciences by 40.0% in the 4th quarter. Aaron Wealth Advisors LLC now owns 70,000 shares of the company’s stock valued at $2,208,000 after buying an additional 20,000 shares during the last quarter. Goelzer Investment Management Inc. purchased a new stake in MBX Biosciences in the 4th quarter valued at $6,992,000. Finally, Baker BROS. Advisors LP purchased a new stake in MBX Biosciences in the 3rd quarter valued at $4,861,000.

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.