MBX Biosciences (NASDAQ:MBX) Shares Down 6.5% – Should You Sell?

MBX Biosciences, Inc. (NASDAQ:MBX)’s share price traded down 6.5% on Thursday . The stock traded as low as $37.09 and last traded at $37.6810. 454,004 shares traded hands during mid-day trading, a decline of 36% from the average session volume of 704,603 shares. The stock had previously closed at $40.31.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on MBX shares. Barclays started coverage on shares of MBX Biosciences in a research report on Tuesday, January 27th. They set an “overweight” rating and a $66.00 price target for the company. Guggenheim lifted their price objective on MBX Biosciences from $77.00 to $88.00 and gave the company a “buy” rating in a research note on Friday, January 16th. TD Cowen started coverage on shares of MBX Biosciences in a report on Tuesday, November 4th. They issued a “buy” rating for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of MBX Biosciences in a report on Thursday, January 22nd. Finally, The Goldman Sachs Group initiated coverage on shares of MBX Biosciences in a research note on Thursday, December 4th. They set a “sell” rating and a $18.00 target price on the stock. Ten analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.56.

MBX Biosciences Stock Performance

The firm’s fifty day moving average is $35.01. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of -15.51 and a beta of 0.87.

Institutional Trading of MBX Biosciences

A number of institutional investors have recently added to or reduced their stakes in MBX. Russell Investments Group Ltd. raised its stake in shares of MBX Biosciences by 4,131.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company’s stock worth $26,000 after buying an additional 1,446 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in shares of MBX Biosciences in the 3rd quarter worth about $27,000. GF Fund Management CO. LTD. purchased a new stake in MBX Biosciences during the fourth quarter worth approximately $28,000. Royal Bank of Canada increased its holdings in MBX Biosciences by 59.6% in the 4th quarter. Royal Bank of Canada now owns 1,532 shares of the company’s stock valued at $49,000 after purchasing an additional 572 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of MBX Biosciences by 117.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,896 shares of the company’s stock valued at $51,000 after buying an additional 1,567 shares during the period.

About MBX Biosciences

We are a clinical-stage biopharmaceutical company focused on the discovery and development of novel precision peptide therapies for the treatment of endocrine and metabolic disorders. Our company was founded by global leaders with a transformative approach to peptide drug design and development. Leveraging this expertise, we designed our proprietary Precision Endocrine Peptide™, or PEPTM, platform to overcome the key limitations of unmodified and modified peptide therapies and to improve clinical outcomes and simplify disease management for patients.