Shares of MBX Biosciences, Inc. (NYSE:MBX - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $16.42, but opened at $15.72. MBX Biosciences shares last traded at $17.08, with a volume of 5,571 shares traded.
Several analysts have recently weighed in on the stock. Stifel Nicolaus started coverage on shares of MBX Biosciences in a research note on Tuesday, October 8th. They issued a "buy" rating and a $40.00 price target for the company. JPMorgan Chase & Co. began coverage on MBX Biosciences in a research note on Tuesday, October 8th. They set an "overweight" rating and a $30.00 target price for the company. Jefferies Financial Group initiated coverage on MBX Biosciences in a research report on Tuesday, October 8th. They issued a "buy" rating and a $35.00 target price on the stock. Finally, Guggenheim initiated coverage on MBX Biosciences in a report on Tuesday, October 8th. They set a "buy" rating and a $44.00 price target for the company.
MBX Biosciences (NYSE:MBX - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($2.78) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($2.72) by ($0.06). Research analysts predict that MBX Biosciences, Inc. will post -13.21 EPS for the current fiscal year.
In related news, Director Edward T. Mathers acquired 500,000 shares of MBX Biosciences stock in a transaction dated Monday, September 16th. The shares were acquired at an average cost of $16.00 per share, for a total transaction of $8,000,000.00. Following the completion of the purchase, the director now owns 3,614,486 shares in the company, valued at approximately $57,831,776. The trade was a 16.05 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Life Sciences X. L.P. Frazier bought 625,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were bought at an average cost of $16.00 per share, with a total value of $10,000,000.00. Following the completion of the purchase, the insider now directly owns 4,552,774 shares in the company, valued at $72,844,384. This represents a 15.91 % increase in their ownership of the stock. The disclosure for this purchase can be found here.
Several hedge funds have recently added to or reduced their stakes in MBX. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of MBX Biosciences in the 3rd quarter valued at $278,000. Point72 Asset Management L.P. acquired a new stake in MBX Biosciences in the third quarter valued at $405,000. Barclays PLC purchased a new stake in MBX Biosciences during the 3rd quarter worth about $426,000. Geode Capital Management LLC acquired a new position in shares of MBX Biosciences during the 3rd quarter worth about $579,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of MBX Biosciences during the 3rd quarter worth about $624,000.
MBX Biosciences, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of precision peptide therapies for the treatment of endocrine and metabolic disorders. Its lead product candidate is MBX 2109, a parathyroid hormone peptide prodrug, which is in Phase 2 clinical trial designed as a potential long-acting hormone replacement therapy for the treatment of chronic hypoparathyroidism.
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