MBX Biosciences, Inc. (NYSE:MBX) Receives $37.50 Average Target Price from Analysts

Shares of MBX Biosciences, Inc. (NYSE:MBXGet Free Report) have been assigned a consensus rating of “Buy” from the six ratings firms that are presently covering the company, MarketBeat reports. Six 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 brokerages have commented on MBX. Citizens Jmp began coverage on shares of MBX Biosciences in a research note on Thursday, April 10th. They set an “outperform” rating and a $38.00 price target for the company. JMP Securities started coverage on shares of MBX Biosciences in a research note on Thursday, April 10th. They issued a “market outperform” rating and a $38.00 target price for the company. Finally, Guggenheim reiterated a “buy” rating and issued a $44.00 target price on shares of MBX Biosciences in a research note on Thursday, April 10th.

Read Our Latest Report on MBX

Insiders Place Their Bets

In other MBX Biosciences news, Director Ora H. Pescovitz acquired 7,693 shares of the firm’s stock in a transaction that occurred on 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 transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 52.19% of the company’s stock.

Hedge Funds Weigh In On MBX Biosciences

A number of large investors have recently added to or reduced their stakes in MBX. MPM Bioimpact LLC bought a new position in MBX Biosciences during the 1st quarter worth about $8,361,000. Driehaus Capital Management LLC boosted its position in MBX Biosciences by 61.2% during the fourth quarter. Driehaus Capital Management LLC now owns 1,581,760 shares of the company’s stock valued at $29,152,000 after purchasing an additional 600,438 shares during the last quarter. Woodline Partners LP boosted its position in MBX Biosciences by 44.1% during the first quarter. Woodline Partners LP now owns 877,461 shares of the company’s stock valued at $6,476,000 after purchasing an additional 268,740 shares during the last quarter. Geode Capital Management LLC boosted its position in MBX Biosciences by 1,093.2% during the fourth quarter. Geode Capital Management LLC now owns 265,703 shares of the company’s stock valued at $4,898,000 after purchasing an additional 243,434 shares during the last quarter. Finally, Affinity Asset Advisors LLC acquired a new stake in MBX Biosciences in the 1st quarter valued at about $1,292,000.

MBX Biosciences Trading Down 5.2%

NYSE MBX opened at $11.29 on Tuesday. The firm has a 50-day simple moving average of $11.03 and a 200 day simple moving average of $11.48. MBX Biosciences has a twelve month low of $4.81 and a twelve month high of $27.50.

MBX Biosciences Company Profile

(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.

Further Reading

Analyst Recommendations for MBX Biosciences (NYSE:MBX)

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