MBX Biosciences, Inc. (NASDAQ:MBX) Sees Large Increase in Short Interest

Key Points

• Short interest rose 24.6% in March to 2,983,725 shares (about 6.3% of the float), yielding a 5.0‑day short‑interest ratio based on average daily volume.
• Analysts are mixed but the consensus is a Moderate Buy with an average price target of $51.56, while individual targets range widely from $18 (Goldman Sachs) to $66 (Barclays).
• MBX shares traded down 5.5% to $26.92; CEO P. Kent Hawryluk purchased 18,500 shares at $28.41 raising his stake to 486,777 shares, and the company reported Q1 EPS of ($0.49) versus ($0.64) expected.

MBX Biosciences, Inc. (NASDAQ:MBX - Get Free Report) was the target of a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 2,983,725 shares, a growth of 24.6% from the February 26th total of 2,395,339 shares. Currently, 6.3% of the shares of the company are short sold. Based on an average daily volume of 596,352 shares, the short-interest ratio is currently 5.0 days.

Analysts Set New Price Targets

A number of brokerages have recently commented on MBX. Barclays began coverage on MBX Biosciences in a report on Tuesday, January 27th. They set an "overweight" rating and a $66.00 price target for the company. The Goldman Sachs Group initiated coverage on shares of MBX Biosciences in a research note on Thursday, December 4th. They issued a "sell" rating and a $18.00 price objective on the stock. Truist Financial set a $50.00 target price on shares of MBX Biosciences in a research note on Monday, March 9th. Wall Street Zen raised shares of MBX Biosciences from a "sell" rating to a "hold" rating in a report on Sunday, December 21st. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of MBX Biosciences in a research report on Thursday, January 22nd. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $51.56.

MBX Biosciences Stock Down 5.5%

MBX Biosciences stock traded down $1.58 during trading hours on Monday, hitting $26.92. The stock had a trading volume of 452,892 shares, compared to its average volume of 636,877. The company has a 50-day moving average of $34.31 and a two-hundred day moving average of $27.80. The company has a market cap of $1.28 billion, a PE ratio of -11.17 and a beta of 1.07. MBX Biosciences has a fifty-two week low of $4.81 and a fifty-two week high of $44.89.

MBX Biosciences (NASDAQ:MBX - Get Free Report) last announced its quarterly earnings data on Thursday, March 12th. The company reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($0.64) by $0.15.

Insider Buying and Selling at MBX Biosciences

In other MBX Biosciences news, CEO P. Kent Hawryluk bought 18,500 shares of the firm's stock in a transaction that occurred 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 purchase, the chief executive officer directly owned 486,777 shares in the company, valued at $13,829,334.57. This trade represents a 3.95% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Institutional Investors Weigh In On MBX Biosciences

A number of institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. raised its stake in shares of MBX Biosciences by 4,131.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company's stock valued at $26,000 after buying an additional 1,446 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of MBX Biosciences during the 3rd quarter valued at about $27,000. GF Fund Management CO. LTD. acquired a new stake in shares of MBX Biosciences during the 4th quarter valued at about $28,000. Royal Bank of Canada increased its stake in MBX Biosciences by 59.6% in the fourth quarter. Royal Bank of Canada now owns 1,532 shares of the company's stock valued at $49,000 after acquiring an additional 572 shares during the period. Finally, BNP Paribas Financial Markets raised its position in MBX Biosciences by 117.9% in the third quarter. BNP Paribas Financial Markets now owns 2,896 shares of the company's stock worth $51,000 after purchasing an additional 1,567 shares in the last quarter.

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.

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