MBX Biosciences (NYSE:MBX) Shares Up 15.7% - What's Next?

Key Points

• MBX Biosciences' shares surged 15.7% on Friday, reaching a high of $15.64 before closing at $15.08, with trading volume up by 67% compared to its average.
• Multiple analysts have initiated coverage on MBX, with ratings of "market outperform" and "buy", and a consensus price target of $37.57.
• Institutional investors have recently increased their stakes in MBX Biosciences, including Woodline Partners LP, which boosted its position by 44.1% in the first quarter.
• MBX Biosciences is a clinical-stage biopharmaceutical company focused on developing precision peptide therapies, with its lead candidate, MBX 2109, in Phase 2 clinical trials for chronic hypoparathyroidism.

MBX Biosciences, Inc. (NYSE:MBX - Get Free Report)'s share price shot up 15.7% on Friday . The stock traded as high as $15.64 and last traded at $15.08. 514,917 shares were traded during trading, an increase of 67% from the average session volume of 307,548 shares. The stock had previously closed at $13.03.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MBX. JMP Securities began coverage on MBX Biosciences in a research report on Thursday, April 10th. They set a "market outperform" rating and a $38.00 price target for the company. Oppenheimer started coverage on MBX Biosciences in a research report on Wednesday, July 16th. They issued an "outperform" rating and a $38.00 price objective for the company. Citizens Jmp started coverage on MBX Biosciences in a research report on Thursday, April 10th. They issued an "outperform" rating and a $38.00 price objective for the company. Finally, Guggenheim reaffirmed a "buy" rating and issued a $44.00 price objective on shares of MBX Biosciences in a research report on Thursday, April 10th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $37.57.

MBX Biosciences Price Performance

The stock has a fifty day moving average of $11.97 and a two-hundred day moving average of $10.47.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Woodline Partners LP boosted its stake in MBX Biosciences by 44.1% during the 1st 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 during the last quarter. Exome Asset Management LLC acquired a new position in shares of MBX Biosciences during the first quarter valued at $982,000. Parkman Healthcare Partners LLC boosted its position in shares of MBX Biosciences by 93.1% in the 1st quarter. Parkman Healthcare Partners LLC now owns 328,323 shares of the company's stock valued at $2,423,000 after purchasing an additional 158,323 shares during the period. MPM Bioimpact LLC acquired a new position in shares of MBX Biosciences in the 1st quarter valued at $8,361,000. Finally, Affinity Asset Advisors LLC acquired a new position in shares of MBX Biosciences in the 1st quarter valued at $1,292,000.

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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