MBX Biosciences, Inc. (NYSE:MBX - Get Free Report)'s stock price gapped up prior to trading on Monday . The stock had previously closed at $10.00, but opened at $22.40. MBX Biosciences shares last traded at $22.70, with a volume of 17,633,217 shares changing hands.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on MBX shares. Mizuho initiated coverage on MBX Biosciences in a research report on Tuesday, August 5th. They set an "outperform" rating and a $38.00 target price on the stock. Guggenheim reaffirmed a "buy" rating on shares of MBX Biosciences in a report on Monday. Finally, Oppenheimer began coverage on MBX Biosciences in a research note on Wednesday, July 16th. They issued an "outperform" rating and a $38.00 price target for the company. Eight research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $37.63.
Check Out Our Latest Stock Report on MBX Biosciences
MBX Biosciences Price Performance
The company's 50-day simple moving average is $12.81 and its 200 day simple moving average is $10.98. The firm has a market cap of $616.55 million and a P/E ratio of -4.00.
Institutional Investors Weigh In On MBX Biosciences
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MPM Bioimpact LLC acquired a new position in shares of MBX Biosciences during the 1st quarter valued at about $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 valued at $6,476,000 after acquiring an additional 268,740 shares in the last quarter. Sio Capital Management LLC acquired a new stake in MBX Biosciences in the second quarter valued at approximately $2,750,000. Affinity Asset Advisors LLC acquired a new stake in MBX Biosciences during the first quarter worth approximately $1,292,000. Finally, Parkman Healthcare Partners LLC raised its holdings in MBX Biosciences by 93.1% during 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 in the last quarter.
About MBX Biosciences
(
Get Free Report)
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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