MBX Biosciences (NASDAQ:MBX) Shares Gap Down – Time to Sell?

MBX Biosciences, Inc. (NASDAQ:MBX)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $37.25, but opened at $32.00. MBX Biosciences shares last traded at $35.5210, with a volume of 638,707 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MBX. Stifel Nicolaus set a $56.00 target price on MBX Biosciences in a research report on Tuesday, May 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of MBX Biosciences in a research report on Tuesday, April 21st. TD Cowen reissued a “buy” rating on shares of MBX Biosciences in a research report on Thursday, March 12th. Truist Financial lifted their price objective on MBX Biosciences from $50.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Finally, Citigroup reissued an “outperform” rating on shares of MBX Biosciences in a research report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, MBX Biosciences presently has a consensus rating of “Moderate Buy” and an average target price of $60.22.

MBX Biosciences Trading Down 9.8%

The firm has a market capitalization of $1.60 billion, a P/E ratio of -15.32 and a beta of 0.75. The business has a 50-day moving average of $32.43 and a 200 day moving average of $32.95.

MBX Biosciences (NASDAQ:MBX) last issued its earnings results on Thursday, March 12th. The company reported ($0.49) EPS for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.15. As a group, research analysts forecast that MBX Biosciences, Inc. will post -2.84 EPS for the current year.

Institutional Trading of MBX Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MBX. Russell Investments Group Ltd. increased its position in MBX Biosciences by 4,131.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company’s stock valued at $26,000 after buying an additional 1,446 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in MBX Biosciences during the 3rd quarter valued at about $27,000. GF Fund Management CO. LTD. acquired a new position in MBX Biosciences during the 4th quarter valued at about $28,000. Strs Ohio boosted its stake in MBX Biosciences by 128.6% during the 1st quarter. Strs Ohio now owns 1,600 shares of the company’s stock valued at $48,000 after purchasing an additional 900 shares during the last quarter. Finally, Royal Bank of Canada boosted its stake in MBX Biosciences by 59.6% during the 4th quarter. Royal Bank of Canada now owns 1,532 shares of the company’s stock valued at $49,000 after purchasing an additional 572 shares during the last quarter.

About MBX Biosciences

We are a clinical-stage biopharmaceutical company focused on the discovery and development of novel precision peptide therapies for the treatment of endocrine and metabolic disorders. Our company was founded by global leaders with a transformative approach to peptide drug design and development. Leveraging this expertise, we designed our proprietary Precision Endocrine Peptide™, or PEPTM, platform to overcome the key limitations of unmodified and modified peptide therapies and to improve clinical outcomes and simplify disease management for patients.