MBX Biosciences, Inc. (NYSE:MBX) Receives Average Recommendation of "Buy" from Brokerages

MBX Biosciences, Inc. (NYSE:MBX - Get Free Report) has earned a consensus recommendation of "Buy" from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have covered the stock in the last year is $37.50.

MBX has been the topic of several analyst reports. JMP Securities assumed coverage on MBX Biosciences in a report on Thursday, April 10th. They issued a "market outperform" rating and a $38.00 target price on the stock. Citizens Jmp started coverage on shares of MBX Biosciences in a research note on Thursday, April 10th. They issued an "outperform" rating and a $38.00 price target on the stock. Finally, Guggenheim restated a "buy" rating and set a $44.00 price objective on shares of MBX Biosciences in a research note on Thursday, April 10th.

Insider Buying and Selling

In related news, Director Carl L. Gordon purchased 143,170 shares of MBX Biosciences stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average cost of $10.84 per share, for a total transaction of $1,551,962.80. Following the completion of the purchase, the director now directly owns 3,255,000 shares of the company's stock, valued at $35,284,200. The trade was a 4.60 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ora H. Pescovitz acquired 7,693 shares of the stock in a transaction that occurred on Tuesday, April 8th. The shares were bought at an average price of $5.89 per share, for a total transaction of $45,311.77. Following the transaction, the director now owns 24,329 shares of the company's stock, valued at $143,297.81. This trade represents a 46.24 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 198,365 shares of company stock worth $2,066,119. 52.19% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MBX Biosciences

Institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets bought a new position in MBX Biosciences in the fourth quarter valued at about $27,000. New York State Common Retirement Fund purchased a new stake in shares of MBX Biosciences during the 1st quarter valued at about $32,000. Virtus ETF Advisers LLC bought a new position in shares of MBX Biosciences in the 4th quarter worth approximately $64,000. Deutsche Bank AG purchased a new position in shares of MBX Biosciences in the fourth quarter worth approximately $80,000. Finally, Corebridge Financial Inc. bought a new stake in MBX Biosciences during the fourth quarter valued at approximately $103,000.

MBX Biosciences Stock Performance

Shares of MBX traded down $0.50 during mid-day trading on Monday, reaching $11.21. The company had a trading volume of 28,279 shares, compared to its average volume of 295,057. MBX Biosciences has a 52 week low of $4.81 and a 52 week high of $27.50. The firm has a 50-day moving average price of $8.50 and a 200 day moving average price of $13.72.

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.