MBX Biosciences (NYSE:MBX) Stock Price Down 7.3% - Time to Sell?

MBX Biosciences, Inc. (NYSE:MBX - Get Free Report) shares were down 7.3% during trading on Friday . The stock traded as low as $20.28 and last traded at $20.29. Approximately 22,477 shares changed hands during trading, a decline of 87% from the average daily volume of 175,844 shares. The stock had previously closed at $21.89.

Wall Street Analyst Weigh In

MBX has been the topic of several research reports. Stifel Nicolaus assumed coverage on MBX Biosciences in a report on Tuesday, October 8th. They issued a "buy" rating and a $40.00 target price on the stock. Guggenheim began coverage on MBX Biosciences in a research note on Tuesday, October 8th. They issued a "buy" rating and a $44.00 price objective on the stock. JPMorgan Chase & Co. began coverage on MBX Biosciences in a report on Tuesday, October 8th. They set an "overweight" rating and a $30.00 price objective on the stock. Finally, Jefferies Financial Group started coverage on shares of MBX Biosciences in a report on Tuesday, October 8th. They issued a "buy" rating and a $35.00 target price for the company.

MBX Biosciences Stock Down 8.3 %

The firm's fifty day moving average is $20.85.

MBX Biosciences (NYSE:MBX - Get Free Report) last issued its earnings results 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). As a group, analysts expect that MBX Biosciences, Inc. will post -13.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MBX Biosciences

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

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.