MBX Biosciences, Inc. (NASDAQ:MBX) Sees Large Increase in Short Interest

MBX Biosciences, Inc. (NASDAQ:MBX) saw a significant growth in short interest in March. As of March 13th, there was short interest totaling 2,983,725 shares, a growth of 24.6% from the February 26th total of 2,395,339 shares. Currently, 6.3% of the shares of the stock are sold short. Based on an average daily volume of 596,352 shares, the days-to-cover ratio is currently 5.0 days.

Insider Buying and Selling at MBX Biosciences

In related news, CEO P. Kent Hawryluk acquired 18,500 shares of the stock in a transaction dated Friday, March 13th. The shares were bought at an average cost of $28.41 per share, for a total transaction of $525,585.00. Following the purchase, the chief executive officer owned 486,777 shares in the company, valued at approximately $13,829,334.57. This trade represents a 3.95% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Institutional Investors Weigh In On MBX Biosciences

Large investors have recently modified their holdings of the business. Russell Investments Group Ltd. grew its position in shares of MBX Biosciences by 4,131.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company’s stock valued at $26,000 after purchasing an additional 1,446 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of MBX Biosciences in the 3rd quarter valued at about $27,000. GF Fund Management CO. LTD. acquired a new position in shares of MBX Biosciences during the fourth quarter worth about $28,000. Royal Bank of Canada raised its position 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 buying an additional 572 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in MBX Biosciences by 117.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,896 shares of the company’s stock worth $51,000 after acquiring an additional 1,567 shares during the last quarter.

Analyst Upgrades and Downgrades

MBX has been the topic of several recent analyst reports. TD Cowen restated a “buy” rating on shares of MBX Biosciences in a research note on Thursday, March 12th. Truist Financial set a $50.00 target price on MBX Biosciences in a report on Monday, March 9th. Guggenheim lifted their price objective on MBX Biosciences from $77.00 to $88.00 and gave the company a “buy” rating in a research report on Friday, January 16th. The Goldman Sachs Group started coverage on MBX Biosciences in a research note on Thursday, December 4th. They issued a “sell” rating and a $18.00 target price for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of MBX Biosciences in a report on Thursday, January 22nd. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.56.

MBX Biosciences Stock Down 5.5%

NASDAQ MBX traded down $1.58 during trading hours on Monday, hitting $26.92. The company’s stock had a trading volume of 452,892 shares, compared to its average volume of 636,877. MBX Biosciences has a twelve month low of $4.81 and a twelve month high of $44.89. The firm has a market capitalization of $1.28 billion, a P/E ratio of -11.17 and a beta of 1.07. The stock has a fifty day moving average of $34.31 and a 200 day moving average of $27.80.

MBX Biosciences (NASDAQ:MBX) last issued its earnings results on Thursday, March 12th. The company reported ($0.49) EPS for the quarter, beating the consensus estimate of ($0.64) by $0.15.

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.