Analysts Set MBX Biosciences, Inc. (NYSE:MBX) Target Price at $37.50

MBX Biosciences, Inc. (NYSE:MBX) has been given an average rating of “Buy” by the six brokerages that are currently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a buy rating. The average 1 year target price among brokerages 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. JMP Securities initiated coverage on MBX Biosciences in a research report on Thursday, April 10th. They set a “market outperform” rating and a $38.00 price objective on the stock. Guggenheim reiterated a “buy” rating and set a $44.00 price objective on shares of MBX Biosciences in a research report on Thursday, April 10th. Finally, Citizens Jmp initiated coverage on MBX Biosciences in a research report on Thursday, April 10th. They set an “outperform” rating and a $38.00 price objective on the stock.

Insider Buying and Selling

In related news, Director Carl L. Gordon purchased 47,502 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were bought at an average price of $9.87 per share, for a total transaction of $468,844.74. Following the completion of the transaction, the director now owns 3,205,930 shares of the company’s stock, valued at approximately $31,642,529.10. This trade represents a 1.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Ora H. Pescovitz purchased 7,693 shares of the firm’s stock in a transaction that occurred on Tuesday, April 8th. The stock was bought at an average price of $5.89 per share, for a total transaction of $45,311.77. Following the transaction, the director now directly owns 24,329 shares of the company’s stock, valued at $143,297.81. This trade represents a 46.24% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 198,365 shares of company stock worth $2,066,119. Company insiders own 52.19% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MBX. BNP Paribas Financial Markets bought a new position in MBX Biosciences in the fourth quarter valued at about $27,000. New York State Common Retirement Fund bought a new position in MBX Biosciences in the first quarter valued at about $32,000. Virtus ETF Advisers LLC bought a new position in MBX Biosciences in the fourth quarter valued at about $64,000. Deutsche Bank AG grew its position in MBX Biosciences by 102.0% in the first quarter. Deutsche Bank AG now owns 8,762 shares of the company’s stock valued at $65,000 after acquiring an additional 4,424 shares during the last quarter. Finally, Corebridge Financial Inc. bought a new position in MBX Biosciences in the fourth quarter valued at about $103,000.

MBX Biosciences Trading Down 5.2%

MBX stock opened at $11.10 on Monday. The business’s fifty day moving average price is $8.50 and its two-hundred day moving average price is $13.49. MBX Biosciences has a fifty-two week low of $4.81 and a fifty-two week high of $27.50.

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.