MBX Biosciences, Inc. (NYSE:MBX) Receives $37.40 Consensus PT from Analysts

MBX Biosciences, Inc. (NYSE:MBX) has been assigned a consensus rating of “Buy” from the six ratings firms that are covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $37.50.

A number of research analysts have issued reports on MBX shares. Guggenheim reissued a “buy” rating and issued a $44.00 price target on shares of MBX Biosciences in a report on Thursday, April 10th. Citizens Jmp started coverage on shares of MBX Biosciences in a research report on Thursday, April 10th. They set an “outperform” rating and a $38.00 price target on the stock. Finally, JMP Securities initiated coverage on shares of MBX Biosciences in a research report on Thursday, April 10th. They issued a “market outperform” rating and a $38.00 price objective for the company.

Insider Buying and Selling

In other MBX Biosciences news, CEO P. Kent Hawryluk bought 50,000 shares of MBX Biosciences stock in a transaction on Tuesday, February 4th. The shares were bought at an average price of $10.69 per share, for a total transaction of $534,500.00. Following the completion of the transaction, the chief executive officer now directly owns 448,277 shares of the company’s stock, valued at $4,792,081.13. This trade represents a 12.55 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Carl L. Gordon bought 143,170 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was bought at an average cost of $10.84 per share, for a total transaction of $1,551,962.80. Following the transaction, the director now directly owns 3,255,000 shares of the company’s stock, valued at $35,284,200. The trade was a 4.60 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 248,365 shares of company stock worth $2,600,619.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MBX. The Manufacturers Life Insurance Company acquired a new stake in shares of MBX Biosciences in the 3rd quarter valued at $1,200,000. Point72 Asset Management L.P. acquired a new position in MBX Biosciences in the third quarter valued at $405,000. Wellington Management Group LLP acquired a new stake in shares of MBX Biosciences during the third quarter worth about $74,261,000. Jane Street Group LLC purchased a new position in shares of MBX Biosciences during the third quarter worth about $690,000. Finally, Barclays PLC acquired a new position in MBX Biosciences in the 3rd quarter valued at about $426,000.

MBX Biosciences Trading Up 0.3 %

NYSE MBX opened at $7.43 on Thursday. MBX Biosciences has a fifty-two week low of $4.81 and a fifty-two week high of $27.50. The stock has a 50-day simple moving average of $8.81 and a two-hundred day simple moving average of $15.37.

MBX Biosciences Company Profile

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.