MBX Biosciences (NASDAQ:MBX) Trading Down 5.2% – What’s Next?

MBX Biosciences, Inc. (NASDAQ:MBX) was down 5.2% during trading on Monday . The stock traded as low as $28.77 and last traded at $28.72. Approximately 247,406 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 610,396 shares. The stock had previously closed at $30.28.

Analyst Ratings Changes

Several equities research analysts have issued reports on MBX shares. TD Cowen reiterated a “buy” rating on shares of MBX Biosciences in a research note on Thursday, March 12th. Lifesci Capital upgraded shares of MBX Biosciences to a “strong-buy” rating in a research note on Tuesday, March 31st. Wall Street Zen cut MBX Biosciences from a “hold” rating to a “sell” rating in a research note on Sunday, May 17th. Citigroup reiterated an “outperform” rating on shares of MBX Biosciences in a research note on Tuesday, May 12th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of MBX Biosciences in a research note on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $60.22.

MBX Biosciences Trading Down 4.0%

The stock has a market cap of $1.38 billion, a P/E ratio of -13.15 and a beta of 0.75. The firm has a 50-day simple moving average of $32.16 and a two-hundred day simple moving average of $32.82.

MBX Biosciences (NASDAQ:MBX) last issued its quarterly earnings results on Thursday, March 12th. The company reported ($0.49) EPS for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.15. Sell-side analysts predict that MBX Biosciences, Inc. will post -2.84 earnings per share for the current year.

Insider Buying and Selling at MBX Biosciences

In other news, CEO P. Kent Hawryluk purchased 18,500 shares of the business’s stock in a transaction dated Friday, March 13th. The stock was bought at an average price of $28.41 per share, with a total value of $525,585.00. Following the acquisition, the chief executive officer owned 486,777 shares in the company, valued at approximately $13,829,334.57. The trade was a 3.95% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Institutional Trading of MBX Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in MBX. Russell Investments Group Ltd. lifted its holdings 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 acquiring an additional 1,446 shares during the period. FNY Investment Advisers LLC bought a new position in MBX Biosciences in the third quarter valued at about $27,000. GF Fund Management CO. LTD. bought a new position in MBX Biosciences in the fourth quarter valued at about $28,000. Strs Ohio grew its position in MBX Biosciences by 128.6% in the first quarter. Strs Ohio now owns 1,600 shares of the company’s stock valued at $48,000 after acquiring an additional 900 shares during the last quarter. Finally, Royal Bank of Canada grew its position in MBX Biosciences by 59.6% in the fourth quarter. Royal Bank of Canada now owns 1,532 shares of the company’s stock valued at $49,000 after acquiring an additional 572 shares during the last quarter.

MBX Biosciences Company Profile

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.