MBX Biosciences (NYSE:MBX) Shares Gap Down - Should You Sell?

MBX Biosciences, Inc. (NYSE:MBX - Get Free Report) shares gapped down prior to trading on Friday . The stock had previously closed at $19.29, but opened at $18.82. MBX Biosciences shares last traded at $20.35, with a volume of 11,997 shares changing hands.

Analyst Ratings Changes

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

MBX Biosciences Stock Up 15.0 %

The stock has a 50 day moving average of $21.70.

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

Insider Transactions at MBX Biosciences

In related news, major shareholder Life Sciences X. L.P. Frazier acquired 625,000 shares of the stock in a transaction on Monday, September 16th. The shares were bought at an average price of $16.00 per share, with a total value of $10,000,000.00. Following the completion of the purchase, the insider now owns 4,552,774 shares of the company's stock, valued at approximately $72,844,384. This represents a 15.91 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward T. Mathers bought 500,000 shares of the business's stock in a transaction on 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 completion of the purchase, the director now directly owns 3,614,486 shares in the company, valued at approximately $57,831,776. The trade was a 16.05 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Hedge Funds Weigh In On MBX Biosciences

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