MBX Biosciences (NYSE:MBX) Shares Gap Down - Time to Sell?

MBX Biosciences, Inc. (NYSE:MBX - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $20.27, but opened at $19.55. MBX Biosciences shares last traded at $20.23, with a volume of 7,935 shares changing hands.

Analysts Set New Price Targets

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

MBX Biosciences Stock Up 0.4 %

The firm's 50-day moving average is $21.11.

MBX Biosciences (NYSE:MBX - Get Free Report) last released its quarterly earnings data 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 analysts expect that MBX Biosciences, Inc. will post -13.21 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MBX. Teachers Retirement System of The State of Kentucky bought a new position in shares of MBX Biosciences during the third quarter valued at approximately $694,000. NEA Management Company LLC purchased a new position in MBX Biosciences during the 3rd quarter valued at $93,904,000. The Manufacturers Life Insurance Company bought a new position in MBX Biosciences in the 3rd quarter valued at $1,200,000. Maven Securities LTD purchased a new stake in MBX Biosciences in the third quarter worth $1,299,000. Finally, RA Capital Management L.P. bought a new stake in shares of MBX Biosciences during the third quarter worth $39,264,000.

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.