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

Shares of MBX Biosciences, Inc. (NASDAQ:MBX) gapped down prior to trading on Friday . The stock had previously closed at $24.74, but opened at $21.91. MBX Biosciences shares last traded at $24.23, with a volume of 65,806 shares trading hands.

Analyst Ratings Changes

A number of research firms recently commented on MBX. Wall Street Zen raised MBX Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Mizuho lifted their price objective on shares of MBX Biosciences from $38.00 to $56.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Truist Financial started coverage on shares of MBX Biosciences in a report on Wednesday, October 15th. They issued a “buy” rating and a $50.00 price objective on the stock. Citigroup reissued an “outperform” rating on shares of MBX Biosciences in a report on Monday, September 22nd. Finally, TD Cowen began coverage on MBX Biosciences in a research report on Tuesday. They set a “buy” rating on the stock. Nine analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, MBX Biosciences presently has an average rating of “Moderate Buy” and a consensus target price of $44.00.

MBX Biosciences Trading Down 2.6%

The firm has a market cap of $809.49 million, a PE ratio of -5.30 and a beta of 1.20. The company’s 50-day moving average is $15.61.

MBX Biosciences (NASDAQ:MBX) last announced its earnings results on Thursday, November 6th. The company reported ($0.63) EPS for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.10.

Insider Activity

In other MBX Biosciences news, Director Patrick J. Heron purchased 666,666 shares of the firm’s stock in a transaction dated Friday, September 26th. The shares were acquired at an average price of $18.00 per share, with a total value of $11,999,988.00. Following the purchase, the director directly owned 5,219,440 shares in the company, valued at approximately $93,949,920. This trade represents a 14.64% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO P. Kent Hawryluk bought 20,000 shares of the firm’s stock in a transaction on Monday, October 20th. The stock was bought at an average cost of $13.64 per share, for a total transaction of $272,800.00. Following the transaction, the chief executive officer directly owned 468,277 shares of the company’s stock, valued at $6,387,298.28. The trade was a 4.46% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 706,666 shares of company stock valued at $12,537,788 in the last 90 days. Company insiders own 52.19% of the company’s stock.

Institutional Investors Weigh In On MBX Biosciences

Several institutional investors have recently modified their holdings of the company. New York State Common Retirement Fund purchased a new position in MBX Biosciences during the 1st quarter worth $32,000. TD Asset Management Inc boosted its stake in shares of MBX Biosciences by 313.9% during the first quarter. TD Asset Management Inc now owns 151,504 shares of the company’s stock worth $1,118,000 after buying an additional 114,904 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of MBX Biosciences by 1.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 94,546 shares of the company’s stock worth $698,000 after buying an additional 1,235 shares during the last quarter. Deutsche Bank AG increased its position in MBX Biosciences by 102.0% in the 1st quarter. Deutsche Bank AG now owns 8,762 shares of the company’s stock valued at $65,000 after acquiring an additional 4,424 shares during the period. Finally, Koa Wealth Management LLC acquired a new position in MBX Biosciences in the 1st quarter valued at about $143,000.

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.