MBX Biosciences (NYSE:MBX) Receives “Buy” Rating from Guggenheim

Guggenheim reissued their buy rating on shares of MBX Biosciences (NYSE:MBX) in a research note published on Thursday,Benzinga reports. The brokerage currently has a $44.00 target price on the stock.

Separately, JMP Securities began coverage on MBX Biosciences in a report on Thursday. They issued a “market outperform” rating and a $38.00 price objective on the stock. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $37.50.

MBX Biosciences Trading Down 2.0 %

NYSE:MBX opened at $6.27 on Thursday. The company’s 50-day moving average is $8.95 and its two-hundred day moving average is $15.66. MBX Biosciences has a 1-year low of $4.81 and a 1-year high of $27.50.

Insider Activity

In related news, CEO P. Kent Hawryluk bought 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was purchased at an average price of $10.69 per share, for a total transaction of $534,500.00. Following the acquisition, the chief executive officer now owns 448,277 shares of the company’s stock, valued at approximately $4,792,081.13. This trade represents a 12.55 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ora H. Pescovitz purchased 7,693 shares of the firm’s stock in a transaction on Tuesday, April 8th. The shares were purchased at an average price of $5.89 per share, for a total transaction of $45,311.77. Following the completion of the purchase, the director now directly owns 24,329 shares of the company’s stock, valued at $143,297.81. This represents a 46.24 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 248,365 shares of company stock valued at $2,600,619.

Hedge Funds Weigh In On MBX Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets purchased a new stake in MBX Biosciences during the fourth quarter worth about $27,000. Virtus ETF Advisers LLC acquired a new position in shares of MBX Biosciences in the fourth quarter valued at approximately $64,000. Deutsche Bank AG purchased a new stake in MBX Biosciences during the 4th quarter worth approximately $80,000. Corebridge Financial Inc. acquired a new stake in MBX Biosciences during the 4th quarter worth approximately $103,000. Finally, Wells Fargo & Company MN purchased a new position in MBX Biosciences in the 4th quarter valued at approximately $108,000.

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.