Guggenheim Reiterates Buy Rating for MBX Biosciences (NYSE:MBX)

Guggenheim reaffirmed their buy rating on shares of MBX Biosciences (NYSE:MBX) in a research report released on Thursday morning,Benzinga reports. They currently have a $44.00 price objective on the stock.

Separately, JMP Securities started coverage on shares of MBX Biosciences in a research report on Thursday. They set a “market outperform” rating and a $38.00 price objective for the company. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $37.50.

MBX Biosciences Trading Down 2.0 %

Shares of MBX Biosciences stock opened at $6.27 on Thursday. MBX Biosciences has a 52-week low of $4.81 and a 52-week high of $27.50. The company has a 50 day moving average of $8.95 and a 200 day moving average of $15.66.

Insider Buying and Selling at MBX Biosciences

In related news, Director Ora H. Pescovitz purchased 7,693 shares of MBX Biosciences stock in a transaction that occurred on Tuesday, April 8th. The stock was purchased at an average cost of $5.89 per share, with a total value of $45,311.77. Following the completion of the transaction, the director now directly owns 24,329 shares in the company, valued at approximately $143,297.81. The trade was a 46.24 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO P. Kent Hawryluk acquired 50,000 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were purchased at an average cost of $10.69 per share, for a total transaction of $534,500.00. Following the acquisition, the chief executive officer now owns 448,277 shares of the company’s stock, valued at approximately $4,792,081.13. The trade was a 12.55 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 248,365 shares of company stock worth $2,600,619 over the last three months.

Institutional Trading of MBX Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in MBX. Woodline Partners LP grew its stake in MBX Biosciences by 17.1% during the 4th quarter. Woodline Partners LP now owns 608,721 shares of the company’s stock worth $11,219,000 after buying an additional 89,046 shares during the last quarter. Parkman Healthcare Partners LLC purchased a new position in shares of MBX Biosciences during the fourth quarter worth approximately $3,133,000. Nuveen Asset Management LLC acquired a new position in shares of MBX Biosciences in the 4th quarter valued at $267,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in MBX Biosciences in the 4th quarter valued at $117,000. Finally, Deutsche Bank AG purchased a new stake in MBX Biosciences in the 4th quarter valued at $80,000.

About MBX Biosciences

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.