MBX Biosciences (NYSE:MBX) Trading 4.6% Higher – What’s Next?

MBX Biosciences, Inc. (NYSE:MBX) shot up 4.6% on Tuesday . The company traded as high as $20.74 and last traded at $20.02. 19,745 shares were traded during mid-day trading, a decline of 85% from the average session volume of 131,484 shares. The stock had previously closed at $19.14.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on MBX shares. JPMorgan Chase & Co. initiated coverage on shares of MBX Biosciences in a research report on Tuesday, October 8th. They issued an “overweight” rating and a $30.00 price target for the company. Guggenheim started coverage on MBX Biosciences in a report on Tuesday, October 8th. They issued a “buy” rating and a $44.00 target price for the company. Jefferies Financial Group began coverage on MBX Biosciences in a research report on Tuesday, October 8th. They set a “buy” rating and a $35.00 target price for the company. Finally, Stifel Nicolaus started coverage on MBX Biosciences in a research report on Tuesday, October 8th. They issued a “buy” rating and a $40.00 price target on the stock.

MBX Biosciences Trading Up 4.5 %

The business’s 50-day moving average price is $21.29.

MBX Biosciences (NYSE:MBX) last announced its earnings results on Thursday, November 7th. The company reported ($2.78) EPS for the quarter, missing the consensus estimate of ($2.72) by ($0.06). As a group, equities research analysts forecast that MBX Biosciences, Inc. will post -13.21 EPS for the current fiscal year.

Institutional Investors Weigh In On MBX Biosciences

A number of hedge funds have recently added to or reduced their stakes in the stock. NEA Management Company LLC acquired a new position in shares of MBX Biosciences during the third quarter worth approximately $93,904,000. The Manufacturers Life Insurance Company acquired a new position in MBX Biosciences during the 3rd quarter worth $1,200,000. Maven Securities LTD bought a new position in MBX Biosciences in the 3rd quarter valued at $1,299,000. RA Capital Management L.P. acquired a new stake in shares of MBX Biosciences in the 3rd quarter valued at $39,264,000. Finally, Frazier Life Sciences Management L.P. bought a new stake in shares of MBX Biosciences during the third quarter worth $155,499,000.

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.