MBX Biosciences, Inc. (NYSE:MBX) Receives $37.50 Average Target Price from Analysts

Shares of MBX Biosciences, Inc. (NYSE:MBX - Get Free Report) have earned an average recommendation of "Buy" from the six analysts that are presently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a buy recommendation. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $37.50.

A number of research analysts recently commented on the stock. Citizens Jmp began coverage on shares of MBX Biosciences in a research note on Thursday, April 10th. They set an "outperform" rating and a $38.00 price objective on the stock. JMP Securities started coverage on MBX Biosciences in a research report on Thursday, April 10th. They issued a "market outperform" rating and a $38.00 price target for the company. Finally, Guggenheim restated 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 4.8%

Shares of MBX Biosciences stock traded down $0.54 during trading on Tuesday, hitting $10.75. 1,073,038 shares of the stock were exchanged, compared to its average volume of 287,963. MBX Biosciences has a 12 month low of $4.81 and a 12 month high of $27.50. The stock's fifty day moving average is $11.03 and its 200 day moving average is $11.48.

Insider Transactions at MBX Biosciences

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 shares were purchased at an average price of $5.89 per share, for a total transaction of $45,311.77. Following the acquisition, the director now directly owns 24,329 shares of the company's stock, valued at $143,297.81. The trade was a 46.24% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 52.19% of the stock is currently owned by corporate insiders.

Institutional Trading of MBX Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. boosted its stake in MBX Biosciences by 1.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 94,546 shares of the company's stock valued at $698,000 after buying an additional 1,235 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in shares of MBX Biosciences in the 4th quarter worth about $27,000. Virtus ETF Advisers LLC acquired a new stake in shares of MBX Biosciences during the 4th quarter worth about $64,000. The Manufacturers Life Insurance Company increased its position in shares of MBX Biosciences by 7.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 49,675 shares of the company's stock worth $916,000 after purchasing an additional 3,481 shares in the last quarter. Finally, New York State Common Retirement Fund bought a new position in MBX Biosciences during the 1st quarter valued at about $32,000.

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.