MBX Biosciences (NASDAQ:MBX) Shares Down 4% - Time to Sell?

Shares of MBX Biosciences, Inc. (NASDAQ:MBX - Get Free Report) fell 4% during mid-day trading on Friday . The stock traded as low as $12.94 and last traded at $13.22. 681,998 shares traded hands during trading, a decline of 76% from the average session volume of 2,835,862 shares. The stock had previously closed at $13.77.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MBX. Truist Financial began coverage on shares of MBX Biosciences in a report on Wednesday. They set a "buy" rating and a $50.00 price target for the company. Wall Street Zen upgraded shares of MBX Biosciences from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Citigroup reissued an "outperform" rating on shares of MBX Biosciences in a report on Monday, September 22nd. Weiss Ratings reissued a "sell (d-)" rating on shares of MBX Biosciences in a report on Wednesday, October 8th. Finally, Oppenheimer started coverage on shares of MBX Biosciences in a report on Wednesday, July 16th. They issued an "outperform" rating and a $38.00 price target for the company. Seven analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, MBX Biosciences presently has an average rating of "Moderate Buy" and a consensus price target of $44.00.

MBX Biosciences Stock Performance

The company has a market capitalization of $444.11 million and a price-to-earnings ratio of -2.91.

Insider Buying and Selling at MBX Biosciences

In other MBX Biosciences news, Director Patrick J. Heron purchased 666,666 shares of the company's stock in a transaction that occurred on Friday, September 26th. The stock was acquired at an average cost of $18.00 per share, with a total value of $11,999,988.00. Following the completion of the purchase, the director directly owned 5,219,440 shares in the company, valued at approximately $93,949,920. This represents a 14.64% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 52.19% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MBX Biosciences

Several hedge funds have recently bought and sold shares of MBX. MPM Bioimpact LLC acquired a new stake in MBX Biosciences in the first quarter worth $8,361,000. Woodline Partners LP raised its holdings in MBX Biosciences by 44.1% in the first quarter. Woodline Partners LP now owns 877,461 shares of the company's stock worth $6,476,000 after purchasing an additional 268,740 shares during the period. Sio Capital Management LLC acquired a new stake in MBX Biosciences in the second quarter worth $2,750,000. Affinity Asset Advisors LLC acquired a new stake in MBX Biosciences in the first quarter worth $1,292,000. Finally, Parkman Healthcare Partners LLC raised its holdings in MBX Biosciences by 93.1% in the first quarter. Parkman Healthcare Partners LLC now owns 328,323 shares of the company's stock worth $2,423,000 after purchasing an additional 158,323 shares during the period.

MBX Biosciences Company Profile

We are a clinical-stage biopharmaceutical company focused on the discovery and development of novel precision peptide therapies for the treatment of endocrine and metabolic disorders. Our company was founded by global leaders with a transformative approach to peptide drug design and development. Leveraging this expertise, we designed our proprietary Precision Endocrine Peptide™, or PEPTM, platform to overcome the key limitations of unmodified and modified peptide therapies and to improve clinical outcomes and simplify disease management for patients.

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