MBX Biosciences (NYSE:MBX) Trading Down 6.6% - Time to Sell?

MBX Biosciences, Inc. (NYSE:MBX - Get Free Report) shares fell 6.6% on Friday . The company traded as low as $16.50 and last traded at $17.04. 74,612 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 165,992 shares. The stock had previously closed at $18.25.

Wall Street Analyst Weigh In

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

MBX Biosciences Stock Performance

The company's fifty day moving average price is $20.30.

MBX Biosciences (NYSE:MBX - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($2.78) EPS for the quarter, missing analysts' consensus estimates of ($2.72) by ($0.06). Equities analysts anticipate that MBX Biosciences, Inc. will post -13.21 earnings per share for the current year.

Institutional Investors Weigh In On MBX Biosciences

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