MBX Biosciences (NASDAQ:MBX) Trading Down 6.9% - Time to Sell?

Key Points

• MBX Biosciences shares fell 6.9% on Friday, trading as low as $60.01 after closing at $65.71 the prior session. Volume was far below normal, with about 89,466 shares traded versus an average of 697,320.
• Analyst opinions are mixed but lean positive: the stock has a consensus rating of “Moderate Buy” and a consensus price target of $60.22. Recent moves included TD Cowen reiterating a buy, Citizens JMP lifting its target to $86, while some firms issued sell ratings.
• Institutional investors continue to build positions in the clinical-stage biopharmaceutical company, including major increases from Wellington Management and Deep Track Capital. MBX focuses on precision peptide therapies for endocrine and metabolic disorders.

MBX Biosciences, Inc. (NASDAQ:MBX - Get Free Report) shares were down 6.9% during trading on Friday . The company traded as low as $60.01 and last traded at $61.1710. 89,466 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 697,320 shares. The stock had previously closed at $65.71.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on MBX shares. TD Cowen restated a "buy" rating on shares of MBX Biosciences in a research report on Thursday, March 12th. Wall Street Zen lowered MBX Biosciences from a "hold" rating to a "sell" rating in a research note on Sunday, May 17th. Lifesci Capital raised MBX Biosciences to a "strong-buy" rating in a research note on Tuesday, March 31st. Weiss Ratings reiterated a "sell (d-)" rating on shares of MBX Biosciences in a report on Tuesday, April 21st. Finally, Citizens Jmp upped their price target on shares of MBX Biosciences from $76.00 to $86.00 and gave the company a "market outperform" rating in a research report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.22.

MBX Biosciences Stock Performance

The business has a fifty day simple moving average of $39.70 and a 200-day simple moving average of $35.73. The stock has a market capitalization of $2.89 billion, a P/E ratio of -27.50 and a beta of 0.16.

Hedge Funds Weigh In On MBX Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP increased its position in MBX Biosciences by 112.8% in the 3rd quarter. Wellington Management Group LLP now owns 4,823,336 shares of the company's stock valued at $84,408,000 after buying an additional 2,556,708 shares in the last quarter. Deep Track Capital LP boosted its holdings in MBX Biosciences by 43.9% in the third quarter. Deep Track Capital LP now owns 3,150,000 shares of the company's stock worth $55,125,000 after acquiring an additional 961,408 shares in the last quarter. Vanguard Group Inc. grew its stake in MBX Biosciences by 8.4% in the fourth quarter. Vanguard Group Inc. now owns 1,817,811 shares of the company's stock valued at $57,334,000 after acquiring an additional 140,449 shares during the period. Franklin Resources Inc. increased its holdings in shares of MBX Biosciences by 164.2% during the third quarter. Franklin Resources Inc. now owns 1,307,288 shares of the company's stock valued at $22,878,000 after acquiring an additional 812,436 shares in the last quarter. Finally, MPM Bioimpact LLC raised its position in shares of MBX Biosciences by 14.3% during the second quarter. MPM Bioimpact LLC now owns 1,294,416 shares of the company's stock worth $14,769,000 after purchasing an additional 161,466 shares during the period.

About MBX Biosciences

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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