Analysts Set MBX Biosciences, Inc. (NYSE:MBX) PT at $37.40

Shares of MBX Biosciences, Inc. (NYSE:MBX) have received a consensus recommendation of “Buy” from the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy rating. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $37.50.

MBX has been the subject of several recent research reports. Guggenheim reiterated a “buy” rating and set a $44.00 price target on shares of MBX Biosciences in a report on Thursday, April 10th. Citizens Jmp began coverage on shares of MBX Biosciences in a research report on Thursday, April 10th. They set an “outperform” rating and a $38.00 price target on the stock. Finally, JMP Securities began coverage on shares of MBX Biosciences in a research report on Thursday, April 10th. They issued a “market outperform” rating and a $38.00 price objective for the company.

Insiders Place Their Bets

In other news, Director Carl L. Gordon bought 47,502 shares of the stock in a transaction on Friday, February 14th. The shares were purchased at an average cost of $9.87 per share, for a total transaction of $468,844.74. Following the completion of the purchase, the director now directly owns 3,205,930 shares in the company, valued at $31,642,529.10. This represents a 1.50 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ora H. Pescovitz purchased 7,693 shares of the business’s stock in a transaction dated Tuesday, April 8th. The shares were purchased at an average price of $5.89 per share, with a total value of $45,311.77. Following the purchase, the director now directly owns 24,329 shares in the company, valued at $143,297.81. This trade represents a 46.24 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 248,365 shares of company stock valued at $2,600,619.

Institutional Investors Weigh In On MBX Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky purchased a new position in shares of MBX Biosciences in the third quarter worth about $694,000. Barclays PLC purchased a new stake in shares of MBX Biosciences in the third quarter worth about $426,000. Geode Capital Management LLC bought a new position in shares of MBX Biosciences in the third quarter valued at approximately $579,000. Charles Schwab Investment Management Inc. purchased a new position in MBX Biosciences during the fourth quarter valued at approximately $1,720,000. Finally, The Manufacturers Life Insurance Company bought a new stake in MBX Biosciences during the 3rd quarter worth approximately $1,200,000.

MBX Biosciences Stock Up 1.8 %

Shares of NYSE MBX opened at $7.51 on Thursday. MBX Biosciences has a fifty-two week low of $4.81 and a fifty-two week high of $27.50. The firm’s 50-day simple moving average is $8.61 and its 200 day simple moving average is $15.26.

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.