MBX Biosciences (NASDAQ:MBX) Shares Gap Down – Time to Sell?

Shares of MBX Biosciences, Inc. (NASDAQ:MBX) gapped down before the market opened on Friday . The stock had previously closed at $37.25, but opened at $32.00. MBX Biosciences shares last traded at $35.5210, with a volume of 638,707 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on MBX shares. Truist Financial lifted their price target on MBX Biosciences from $50.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Lifesci Capital upgraded MBX Biosciences to a “strong-buy” rating in a research note on Tuesday, March 31st. Citigroup reiterated an “outperform” rating on shares of MBX Biosciences in a research note on Tuesday, May 12th. Barclays lifted their price target on MBX Biosciences from $66.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Finally, Stifel Nicolaus set a $56.00 target price on MBX Biosciences in a research note on Tuesday, May 12th. One research 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $60.22.

MBX Biosciences Trading Down 9.8%

The company has a market cap of $1.60 billion, a P/E ratio of -15.32 and a beta of 0.75. The business’s fifty day moving average is $32.43 and its 200 day moving average is $32.95.

MBX Biosciences (NASDAQ:MBX) last posted 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. As a group, research analysts expect that MBX Biosciences, Inc. will post -2.84 EPS for the current fiscal year.

Institutional Investors Weigh In On MBX Biosciences

A number of hedge funds have recently modified their holdings of MBX. Wellington Management Group LLP raised its holdings in shares of MBX Biosciences by 112.8% in the 3rd quarter. Wellington Management Group LLP now owns 4,823,336 shares of the company’s stock worth $84,408,000 after purchasing an additional 2,556,708 shares during the period. Aaron Wealth Advisors LLC raised its holdings in shares of MBX Biosciences by 1,568.8% in the 1st quarter. Aaron Wealth Advisors LLC now owns 1,168,176 shares of the company’s stock worth $34,870,000 after purchasing an additional 1,098,176 shares during the period. Braidwell LP bought a new stake in shares of MBX Biosciences in the 4th quarter worth approximately $32,127,000. Deep Track Capital LP raised its holdings in shares of MBX Biosciences by 43.9% in the 3rd quarter. Deep Track Capital LP now owns 3,150,000 shares of the company’s stock worth $55,125,000 after purchasing an additional 961,408 shares during the period. Finally, Eventide Asset Management LLC bought a new stake in shares of MBX Biosciences in the 4th quarter worth approximately $28,071,000.

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.