MBX Biosciences (NYSE:MBX) Coverage Initiated at Citizens Jmp

Investment analysts at Citizens Jmp began coverage on shares of MBX Biosciences (NYSE:MBX) in a research report issued on Thursday,Briefing.com Automated Import reports. The brokerage set an “outperform” rating and a $38.00 price target on the stock.

A number of other analysts have also recently commented on the company. Guggenheim reiterated a “buy” rating and set a $44.00 price target on shares of MBX Biosciences in a research note on Thursday. JMP Securities began coverage on MBX Biosciences in a research report on Thursday. They issued a “market outperform” rating and a $38.00 target price on the stock. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $37.50.

MBX Biosciences Trading Down 3.1 %

Shares of NYSE MBX traded down $0.20 during midday trading on Thursday, reaching $6.20. The company had a trading volume of 307,257 shares, compared to its average volume of 274,803. MBX Biosciences has a 1 year low of $4.81 and a 1 year high of $27.50. The business’s 50-day simple moving average is $9.04 and its 200 day simple moving average is $15.77.

Insider Activity at MBX Biosciences

In other MBX Biosciences news, Director Carl L. Gordon acquired 47,502 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was acquired at an average cost of $9.87 per share, for a total transaction of $468,844.74. Following the completion of the transaction, the director now directly owns 3,205,930 shares of the company’s stock, valued at $31,642,529.10. This represents a 1.50 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO P. Kent Hawryluk bought 50,000 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were acquired at an average price of $10.69 per share, for a total transaction of $534,500.00. Following the transaction, the chief executive officer now directly owns 448,277 shares in the company, valued at approximately $4,792,081.13. This represents a 12.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 240,672 shares of company stock worth $2,555,308.

Hedge Funds Weigh In On MBX Biosciences

Large investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets purchased a new stake in shares of MBX Biosciences during the fourth quarter worth about $27,000. Virtus ETF Advisers LLC purchased a new stake in MBX Biosciences during the 4th quarter worth approximately $64,000. The Manufacturers Life Insurance Company raised its holdings in shares of MBX Biosciences by 7.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 49,675 shares of the company’s stock valued at $916,000 after acquiring an additional 3,481 shares during the last quarter. Deutsche Bank AG acquired a new position in shares of MBX Biosciences during the fourth quarter valued at approximately $80,000. Finally, Corebridge Financial Inc. purchased a new position in shares of MBX Biosciences in the fourth quarter valued at approximately $103,000.

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.