MBX Biosciences (NYSE:MBX) Now Covered by Analysts at Citizens Jmp

Equities researchers at Citizens Jmp started coverage on shares of MBX Biosciences (NYSE:MBX) in a report released on Thursday,Briefing.com Automated Import reports. The brokerage set an “outperform” rating and a $38.00 price target on the stock.

A number of other equities analysts also recently commented on MBX. JMP Securities started coverage on MBX Biosciences in a research report on Thursday. They set a “market outperform” rating and a $38.00 price objective on the stock. Guggenheim reissued a “buy” rating and set a $44.00 price target on shares of MBX Biosciences in a research report on Thursday. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $37.50.

MBX Biosciences Stock Down 3.1 %

MBX stock traded down $0.20 during mid-day trading on Thursday, reaching $6.20. The company’s stock had a trading volume of 307,257 shares, compared to its average volume of 274,803. The company’s 50 day moving average is $9.04 and its two-hundred day moving average is $15.77. MBX Biosciences has a fifty-two week low of $4.81 and a fifty-two week high of $27.50.

Insider Activity

In related news, CEO P. Kent Hawryluk acquired 50,000 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was purchased at an average price of $10.69 per share, with a total value of $534,500.00. Following the transaction, the chief executive officer now owns 448,277 shares of the company’s stock, valued at approximately $4,792,081.13. This trade represents a 12.55 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Carl L. Gordon bought 47,502 shares of the business’s stock in a transaction on Friday, February 14th. The stock was purchased at an average cost of $9.87 per share, for a total transaction of $468,844.74. Following the transaction, the director now owns 3,205,930 shares of the company’s stock, valued at $31,642,529.10. This trade represents a 1.50 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 240,672 shares of company stock valued at $2,555,308 in the last quarter.

Hedge Funds Weigh In On MBX Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets purchased a new stake in MBX Biosciences during the fourth quarter worth about $27,000. Virtus ETF Advisers LLC acquired a new position in shares of MBX Biosciences in the fourth quarter valued at approximately $64,000. The Manufacturers Life Insurance Company increased its stake in MBX Biosciences by 7.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 49,675 shares of the company’s stock worth $916,000 after buying an additional 3,481 shares during the period. Deutsche Bank AG acquired a new stake in MBX Biosciences during the 4th quarter worth approximately $80,000. Finally, Corebridge Financial Inc. purchased a new position in MBX Biosciences in the 4th quarter valued at approximately $103,000.

MBX Biosciences Company Profile

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.