MBX Biosciences (NASDAQ:MBX) Trading Down 6.3% – Should You Sell?

MBX Biosciences, Inc. (NASDAQ:MBX)’s share price fell 6.3% on Friday . The stock traded as low as $31.32 and last traded at $31.28. 62,794 shares were traded during mid-day trading, a decline of 89% from the average session volume of 591,346 shares. The stock had previously closed at $33.39.

Analysts Set New Price Targets

Several research firms have recently weighed in on MBX. Wall Street Zen cut shares of MBX Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MBX Biosciences in a report on Tuesday. Guggenheim upped their price target on shares of MBX Biosciences from $77.00 to $88.00 and gave the company a “buy” rating in a report on Friday, January 16th. Truist Financial set a $50.00 price target on shares of MBX Biosciences in a report on Monday, March 9th. Finally, TD Cowen reiterated a “buy” rating on shares of MBX Biosciences in a report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $53.25.

MBX Biosciences Stock Down 4.3%

The company’s fifty day moving average is $32.04 and its 200 day moving average is $29.91. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of -13.25 and a beta of 1.25.

MBX Biosciences (NASDAQ:MBX) last announced its earnings results on Thursday, March 12th. The company reported ($0.49) EPS for the quarter, topping the consensus estimate of ($0.64) by $0.15. On average, equities research analysts forecast that MBX Biosciences, Inc. will post -2.9 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO P. Kent Hawryluk purchased 18,500 shares of the business’s stock in a transaction on Friday, March 13th. The stock was purchased at an average price of $28.41 per share, for a total transaction 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 52.19% of the stock is currently owned by corporate insiders.

Institutional Trading of MBX Biosciences

Large investors have recently added to or reduced their stakes in the company. Hudson Bay Capital Management LP acquired a new stake in MBX Biosciences in the third quarter valued at $1,488,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of MBX Biosciences in the third quarter valued at about $498,000. Ghisallo Capital Management LLC bought a new position in shares of MBX Biosciences in the third quarter valued at about $669,000. Goelzer Investment Management Inc. bought a new position in shares of MBX Biosciences in the fourth quarter valued at about $6,992,000. Finally, Baker BROS. Advisors LP bought a new position in shares of MBX Biosciences in the third quarter valued at about $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.