Analysts Set MBX Biosciences, Inc. (NYSE:MBX) Target Price at $37.50

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

Several brokerages recently issued reports on MBX. JMP Securities initiated coverage on MBX Biosciences in a research report on Thursday, April 10th. They set a "market outperform" rating and a $38.00 target price on the stock. Citizens Jmp began coverage on shares of MBX Biosciences in a research note on Thursday, April 10th. They issued an "outperform" rating and a $38.00 target price for the company. Finally, Guggenheim reissued a "buy" rating and set a $44.00 price target on shares of MBX Biosciences in a research report on Thursday, April 10th.

MBX Biosciences Price Performance

MBX stock traded down $1.17 during mid-day trading on Monday, reaching $10.90. 436,942 shares of the company traded hands, compared to its average volume of 253,447. The firm's 50 day moving average price is $8.42 and its 200 day moving average price is $13.84. 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 related news, Director Ora H. Pescovitz purchased 7,693 shares of the firm's stock in a transaction dated 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 purchase, the director now directly owns 24,329 shares in the company, valued at approximately $143,297.81. This trade represents a 46.24 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carl L. Gordon purchased 143,170 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was bought at an average cost of $10.84 per share, for a total transaction of $1,551,962.80. Following the acquisition, the director now directly owns 3,255,000 shares in the company, valued at $35,284,200. This trade represents a 4.60 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 198,365 shares of company stock worth $2,066,119.

Institutional Investors Weigh In On MBX Biosciences

Several large investors have recently added to or reduced their stakes in MBX. BNP Paribas Financial Markets purchased a new position in shares of MBX Biosciences in the fourth quarter worth about $27,000. New York State Common Retirement Fund purchased a new stake in shares of MBX Biosciences during the first quarter worth $32,000. Virtus ETF Advisers LLC bought a new position in shares of MBX Biosciences in the fourth quarter worth $64,000. Deutsche Bank AG purchased a new position in shares of MBX Biosciences in the fourth quarter valued at $80,000. Finally, Corebridge Financial Inc. bought a new stake in shares of MBX Biosciences during the 4th quarter valued at $103,000.

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.