MBX Biosciences, Inc. (NASDAQ:MBX) Short Interest Up 20.4% in March

Key Points

• Short interest rose 20.4% in March to 3,593,407 shares, equal to about 15.8% of the stock and a short-interest ratio of 8.0 days.
• CEO P. Kent Hawryluk bought 18,500 shares at $28.41 on March 13, boosting his stake to 486,777 shares, and company insiders collectively own 52.19% of the stock.
• MBX reported a quarterly loss of $0.49 per share (beating estimates by $0.15), and analysts hold a consensus of "Moderate Buy" with an average price target of $53.25, though ratings range from buy to sell.

MBX Biosciences, Inc. (NASDAQ:MBX - Get Free Report) was the recipient of a large increase in short interest in the month of March. As of March 31st, there was short interest totaling 3,593,407 shares, an increase of 20.4% from the March 15th total of 2,983,725 shares. Based on an average daily volume of 450,952 shares, the short-interest ratio is presently 8.0 days. Approximately 15.8% of the shares of the stock are short sold.

Insider Activity at MBX Biosciences

In other news, CEO P. Kent Hawryluk purchased 18,500 shares of MBX Biosciences stock in a transaction dated Friday, March 13th. The stock was purchased at an average cost of $28.41 per share, for a total transaction of $525,585.00. Following the transaction, the chief executive officer directly owned 486,777 shares of the company's stock, valued at approximately $13,829,334.57. This trade represents a 3.95% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 52.19% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Hudson Bay Capital Management LP purchased a new stake in shares of MBX Biosciences in the 3rd quarter worth about $1,488,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in MBX Biosciences in the third quarter worth about $498,000. Ghisallo Capital Management LLC bought a new stake in MBX Biosciences during the 3rd quarter valued at approximately $669,000. Baker BROS. Advisors LP purchased a new position in shares of MBX Biosciences during the 3rd quarter worth approximately $4,861,000. Finally, Goelzer Investment Management Inc. bought a new position in shares of MBX Biosciences in the 4th quarter worth approximately $6,992,000.

MBX Biosciences Stock Performance

MBX traded up $0.55 during midday trading on Friday, hitting $33.77. The stock had a trading volume of 306,779 shares, compared to its average volume of 433,704. MBX Biosciences has a 1 year low of $7.20 and a 1 year high of $44.89. The business has a fifty day moving average of $32.31 and a 200 day moving average of $29.46. The company has a market cap of $1.60 billion, a P/E ratio of -14.01 and a beta of 1.25.

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 analysts' consensus estimates of ($0.64) by $0.15.

Wall Street Analyst Weigh In

Several research firms have weighed in on MBX. Guggenheim raised their price target on MBX Biosciences from $77.00 to $88.00 and gave the company a "buy" rating in a report on Friday, January 16th. Lifesci Capital raised MBX Biosciences to a "strong-buy" rating in a report on Tuesday, March 31st. Stifel Nicolaus raised their target price on shares of MBX Biosciences from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Friday, December 19th. Wall Street Zen lowered shares of MBX Biosciences from a "hold" rating to a "sell" rating in a research report on Saturday, April 11th. Finally, Truist Financial set a $50.00 price target on shares of MBX Biosciences in a research note on Monday, March 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, MBX Biosciences currently has an average rating of "Moderate Buy" and an average price target of $53.25.

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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