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

Shares of MBX Biosciences, Inc. (NYSE:MBX - Get Free Report) have been given an average rating of "Buy" by the six research firms that are covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a buy rating. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $37.50.

MBX has been the subject of a number of recent analyst reports. Guggenheim restated a "buy" rating and set a $44.00 price target on shares of MBX Biosciences in a report on Thursday, April 10th. Citizens Jmp initiated coverage on shares of MBX Biosciences in a report on Thursday, April 10th. They set an "outperform" rating and a $38.00 price target for the company. Finally, JMP Securities initiated coverage on shares of MBX Biosciences in a report on Thursday, April 10th. They set a "market outperform" rating and a $38.00 price target for the company.

MBX Biosciences Stock Performance

NYSE MBX traded down $0.19 on Friday, reaching $12.53. 177,747 shares of the company were exchanged, compared to its average volume of 250,891. The business's fifty day moving average price is $9.38 and its 200 day moving average price is $12.53. MBX Biosciences has a fifty-two week low of $4.81 and a fifty-two week high of $27.50.

Insider Activity at MBX Biosciences

In other MBX Biosciences news, Director Ora H. Pescovitz acquired 7,693 shares of the company's stock in a transaction on Tuesday, April 8th. The shares were bought at an average cost of $5.89 per share, for a total transaction of $45,311.77. Following the completion of the purchase, the director now owns 24,329 shares in the company, valued at $143,297.81. This trade represents a 46.24% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 52.19% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MBX. MPM Bioimpact LLC acquired a new position in shares of MBX Biosciences during the first quarter worth about $8,361,000. Driehaus Capital Management LLC boosted its holdings in MBX Biosciences by 61.2% during the fourth quarter. Driehaus Capital Management LLC now owns 1,581,760 shares of the company's stock worth $29,152,000 after buying an additional 600,438 shares in the last quarter. Woodline Partners LP boosted its holdings in MBX Biosciences by 44.1% during the first quarter. Woodline Partners LP now owns 877,461 shares of the company's stock worth $6,476,000 after buying an additional 268,740 shares in the last quarter. Geode Capital Management LLC boosted its holdings in MBX Biosciences by 1,093.2% during the fourth quarter. Geode Capital Management LLC now owns 265,703 shares of the company's stock worth $4,898,000 after buying an additional 243,434 shares in the last quarter. Finally, Affinity Asset Advisors LLC purchased a new stake in MBX Biosciences during the first quarter worth about $1,292,000.

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.