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

MBX Biosciences, Inc. (NYSE:MBX - Get Free Report) has earned a consensus rating of "Buy" from the six ratings firms that are covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $37.50.

A number of research firms have weighed in on MBX. JMP Securities began coverage on MBX Biosciences in a report on Thursday, April 10th. They set a "market outperform" rating and a $38.00 target price for the company. Citizens Jmp began coverage on MBX Biosciences in a report on Thursday, April 10th. They set an "outperform" rating and a $38.00 price objective for the company. Finally, Guggenheim reissued a "buy" rating and set a $44.00 price objective on shares of MBX Biosciences in a report on Thursday, April 10th.

MBX Biosciences Stock Down 0.1%

MBX stock opened at $9.73 on Tuesday. MBX Biosciences has a twelve month low of $4.81 and a twelve month high of $27.50. The stock has a 50-day simple moving average of $10.80 and a two-hundred day simple moving average of $11.56.

Insider Buying and Selling

In other news, Director Ora H. Pescovitz bought 7,693 shares of the company'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 represents a 46.24% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 52.19% of the stock is currently owned by corporate insiders.

Institutional Trading of MBX Biosciences

Hedge funds have recently bought and sold shares of the company. MPM Bioimpact LLC purchased a new stake in shares of MBX Biosciences during the first quarter valued at approximately $8,361,000. Driehaus Capital Management LLC raised its holdings in shares of MBX Biosciences by 61.2% during the fourth quarter. Driehaus Capital Management LLC now owns 1,581,760 shares of the company's stock valued at $29,152,000 after acquiring an additional 600,438 shares in the last quarter. Woodline Partners LP raised its holdings in shares of MBX Biosciences by 44.1% during the first quarter. Woodline Partners LP now owns 877,461 shares of the company's stock valued at $6,476,000 after acquiring an additional 268,740 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of MBX Biosciences by 1,093.2% during the fourth quarter. Geode Capital Management LLC now owns 265,703 shares of the company's stock valued at $4,898,000 after acquiring an additional 243,434 shares in the last quarter. Finally, Affinity Asset Advisors LLC bought a new position in shares of MBX Biosciences during the first quarter valued at approximately $1,292,000.

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.

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