MBX Biosciences (NYSE:MBX) Shares Gap Down - Should You Sell?

Key Points

• MBX Biosciences' stock price gapped down significantly from $20.10 to $17.60 before settling at $17.81, indicating a 13.3% drop in value.
• Analyst ratings remain positive, with a consensus of "Buy" and an average target price of $39.88, driven by ratings from firms like Oppenheimer and Mizuho.
• Institutional investors have been active, with firms such as MPM Bioimpact and Woodline Partners significantly increasing their stakes in MBX Biosciences during recent quarters.

MBX Biosciences, Inc. (NYSE:MBX - Get Free Report)'s stock price gapped down before the market opened on Thursday . The stock had previously closed at $20.10, but opened at $17.60. MBX Biosciences shares last traded at $17.81, with a volume of 1,639,739 shares changing hands.

Analyst Ratings Changes

MBX has been the topic of several research analyst reports. Oppenheimer initiated coverage on MBX Biosciences in a research note on Wednesday, July 16th. They set an "outperform" rating and a $38.00 target price on the stock. Mizuho lifted their price target on MBX Biosciences from $38.00 to $56.00 and gave the company an "outperform" rating in a report on Wednesday. Finally, Citigroup reiterated an "outperform" rating on shares of MBX Biosciences in a report on Monday. Nine research analysts have rated the stock with a Buy rating, According to MarketBeat, MBX Biosciences presently has a consensus rating of "Buy" and an average target price of $39.88.

MBX Biosciences Trading Down 13.3%

The company has a fifty day moving average price of $13.19 and a 200-day moving average price of $11.17. The firm has a market capitalization of $585.38 million and a price-to-earnings ratio of -3.86.

Institutional Investors Weigh In On MBX Biosciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MPM Bioimpact LLC lifted its holdings in MBX Biosciences by 14.3% in the 2nd 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 last quarter. Woodline Partners LP lifted its holdings in MBX Biosciences by 44.1% in the 1st 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 last quarter. Franklin Resources Inc. lifted its holdings in MBX Biosciences by 34.0% in the 2nd quarter. Franklin Resources Inc. now owns 494,852 shares of the company's stock worth $5,646,000 after purchasing an additional 125,537 shares during the last quarter. Geode Capital Management LLC lifted its holdings in MBX Biosciences by 27.0% in the 2nd quarter. Geode Capital Management LLC now owns 348,447 shares of the company's stock worth $3,976,000 after purchasing an additional 73,989 shares during the last quarter. Finally, Parkman Healthcare Partners LLC lifted its holdings in MBX Biosciences by 93.1% in the 1st 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 last quarter.

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.

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