MBX Biosciences (NYSE:MBX) Shares Down 3.6% – Time to Sell?

MBX Biosciences, Inc. (NYSE:MBX) traded down 3.6% on Friday . The company traded as low as $19.93 and last traded at $20.22. 17,809 shares traded hands during trading, a decline of 85% from the average session volume of 120,763 shares. The stock had previously closed at $20.97.

Analyst Upgrades and Downgrades

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

MBX Biosciences Price Performance

The business has a 50-day simple moving average of $22.09.

MBX Biosciences (NYSE:MBX) last posted its 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). As a group, research analysts predict that MBX Biosciences, Inc. will post -13.21 EPS for the current fiscal year.

Insider Activity at MBX Biosciences

In related news, Director Edward T. Mathers purchased 500,000 shares of MBX Biosciences stock in a transaction dated Monday, September 16th. The stock was bought at an average cost of $16.00 per share, with a total value of $8,000,000.00. Following 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 position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Life Sciences X. L.P. Frazier acquired 625,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were bought at an average price of $16.00 per share, for a total transaction of $10,000,000.00. Following the purchase, the insider now directly owns 4,552,774 shares of the company’s stock, valued at approximately $72,844,384. This trade represents a 15.91 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MBX. Frazier Life Sciences Management L.P. bought a new stake in MBX Biosciences during the third quarter worth approximately $155,499,000. NEA Management Company LLC bought a new stake in shares of MBX Biosciences during the 3rd quarter worth $93,904,000. Wellington Management Group LLP acquired a new position in shares of MBX Biosciences in the 3rd quarter worth $74,261,000. RA Capital Management L.P. acquired a new stake in shares of MBX Biosciences during the third quarter worth $39,264,000. Finally, Franklin Resources Inc. purchased a new stake in shares of MBX Biosciences during the third quarter valued at $11,691,000.

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.