MBX Biosciences, Inc. (NYSE:MBX) Given Average Recommendation of “Buy” by Analysts

Shares of MBX Biosciences, Inc. (NYSE:MBX) have received an average recommendation of “Buy” from the six ratings firms that are covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $37.50.

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

MBX Biosciences Price Performance

NYSE:MBX opened at $12.72 on Friday. The firm has a 50 day simple moving average of $9.28 and a 200-day simple moving average of $12.60. MBX Biosciences has a 1-year low of $4.81 and a 1-year high of $27.50.

Insider Activity

In other news, Director Ora H. Pescovitz bought 7,693 shares of the firm’s stock in a transaction dated Tuesday, April 8th. The stock was acquired at an average cost of $5.89 per share, for a total transaction of $45,311.77. Following the completion of the purchase, the director now owns 24,329 shares of the company’s stock, valued at $143,297.81. This trade represents a 46.24% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 52.19% of the company’s stock.

Institutional Trading of MBX Biosciences

Several institutional investors have recently added to or reduced their stakes in the stock. 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. Exome Asset Management LLC acquired a new stake in shares of MBX Biosciences in the 1st quarter worth about $982,000. Parkman Healthcare Partners LLC increased its holdings 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 worth $2,423,000 after acquiring an additional 158,323 shares during the period. MPM Bioimpact LLC bought a new position in MBX Biosciences in the 1st quarter valued at about $8,361,000. Finally, Affinity Asset Advisors LLC bought a new position in MBX Biosciences in the 1st quarter valued at about $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.