MBX Biosciences (NASDAQ:MBX) Sees Unusually-High Trading Volume – What’s Next?

MBX Biosciences, Inc. (NASDAQ:MBX) shares saw an uptick in trading volume on Tuesday . 865,252 shares changed hands during trading, an increase of 37% from the previous session’s volume of 631,091 shares.The stock last traded at $30.4950 and had previously closed at $31.30.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MBX. Truist Financial set a $50.00 target price on shares of MBX Biosciences in a research report on Monday, March 9th. Guggenheim upped their price objective on shares of MBX Biosciences from $77.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. Lifesci Capital upgraded shares of MBX Biosciences to a “strong-buy” rating in a research report on Tuesday, March 31st. Wall Street Zen upgraded shares of MBX Biosciences from a “sell” rating to a “hold” rating in a research report on Sunday, December 21st. Finally, Stifel Nicolaus upped their price objective on shares of MBX Biosciences from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Sell rating to the stock. According to MarketBeat.com, MBX Biosciences presently has an average rating of “Moderate Buy” and a consensus target price of $51.56.

MBX Biosciences Stock Down 5.9%

The firm has a market cap of $1.40 billion, a price-to-earnings ratio of -12.38 and a beta of 1.25. The business’s 50-day simple moving average is $33.20 and its two-hundred day simple moving average is $28.68.

MBX Biosciences (NASDAQ:MBX) last released its 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.

Insider Activity at MBX Biosciences

In related news, CEO P. Kent Hawryluk bought 18,500 shares of the business’s stock in a transaction dated Friday, March 13th. The stock was acquired at an average price of $28.41 per share, with a total value of $525,585.00. Following the completion of the purchase, the chief executive officer directly owned 486,777 shares of the company’s stock, valued at approximately $13,829,334.57. This trade represents a 3.95% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 52.19% of the stock is owned by corporate insiders.

Institutional Trading of MBX Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of MBX. Geode Capital Management LLC increased its stake in shares of MBX Biosciences by 27.0% during the second quarter. Geode Capital Management LLC now owns 348,447 shares of the company’s stock worth $3,976,000 after purchasing an additional 73,989 shares in the last quarter. Rhumbline Advisers increased its stake in shares of MBX Biosciences by 171.6% during the second quarter. Rhumbline Advisers now owns 23,662 shares of the company’s stock worth $270,000 after purchasing an additional 14,950 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of MBX Biosciences during the second quarter worth about $135,000. Walleye Capital LLC increased its stake in shares of MBX Biosciences by 116.5% during the second quarter. Walleye Capital LLC now owns 70,333 shares of the company’s stock worth $802,000 after purchasing an additional 37,843 shares in the last quarter. Finally, Resolute Capital Asset Partners LLC purchased a new stake in MBX Biosciences during the 2nd quarter valued at about $567,000.

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.