MBX Biosciences, Inc. (NYSE:MBX) Given Average Rating of “Buy” by Analysts

Shares of MBX Biosciences, Inc. (NYSE:MBX) have earned an average recommendation of “Buy” from the six analysts that are covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a buy rating. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $37.50.

MBX has been the topic of several recent research reports. Guggenheim reissued a “buy” rating and set a $44.00 price objective on shares of MBX Biosciences in a report on Thursday, April 10th. JMP Securities initiated coverage on MBX Biosciences in a research note on Thursday, April 10th. They set a “market outperform” rating and a $38.00 price target on the stock. Finally, Citizens Jmp started coverage on shares of MBX Biosciences in a report on Thursday, April 10th. They issued an “outperform” rating and a $38.00 price objective for the company.

Insider Activity at MBX Biosciences

In other news, CEO P. Kent Hawryluk bought 50,000 shares of the company’s stock in a transaction that occurred on 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 completion of the acquisition, 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ora H. Pescovitz purchased 7,693 shares of the firm’s stock in a transaction on Tuesday, April 8th. The shares were acquired at an average price of $5.89 per share, with a total value of $45,311.77. Following the completion of the acquisition, the director now owns 24,329 shares in the company, valued at approximately $143,297.81. This trade represents a 46.24 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 248,365 shares of company stock worth $2,600,619 over the last ninety days.

Hedge Funds Weigh In On MBX Biosciences

Several institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets bought a new position in MBX Biosciences during the fourth quarter worth $27,000. Virtus ETF Advisers LLC acquired a new position in shares of MBX Biosciences during the fourth quarter valued at about $64,000. Deutsche Bank AG bought a new position in shares of MBX Biosciences during the 4th quarter worth about $80,000. Corebridge Financial Inc. acquired a new stake in shares of MBX Biosciences in the 4th quarter valued at about $103,000. Finally, Wells Fargo & Company MN bought a new stake in MBX Biosciences in the 4th quarter valued at about $108,000.

MBX Biosciences Stock Up 1.8 %

NYSE MBX opened at $7.51 on Thursday. The firm’s fifty day moving average price is $8.61 and its two-hundred day moving average price is $15.26. MBX Biosciences has a fifty-two week low of $4.81 and a fifty-two week high of $27.50.

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.