MBX Biosciences (NYSE:MBX) Shares Gap Down – What’s Next?

MBX Biosciences, Inc. (NYSE:MBX)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $16.28, but opened at $15.75. MBX Biosciences shares last traded at $15.76, with a volume of 36,026 shares trading hands.

Analysts Set New Price Targets

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

MBX Biosciences Stock Down 6.8 %

The company has a fifty day moving average of $20.23.

MBX Biosciences (NYSE:MBX) last released its quarterly earnings data on Thursday, November 7th. The company reported ($2.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.72) by ($0.06). Research analysts forecast that MBX Biosciences, Inc. will post -13.21 EPS for the current year.

Institutional Investors Weigh In On MBX Biosciences

Hedge funds have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of MBX Biosciences in the 3rd quarter valued at $278,000. Point72 Asset Management L.P. purchased a new stake in MBX Biosciences in the 3rd quarter valued at about $405,000. Barclays PLC acquired a new position in MBX Biosciences in the third quarter valued at about $426,000. Geode Capital Management LLC purchased a new position in MBX Biosciences during the third quarter worth about $579,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of MBX Biosciences during the third quarter valued at about $624,000.

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.