MBX Biosciences (NASDAQ:MBX) Trading Down 5.2% – Should You Sell?

MBX Biosciences, Inc. (NASDAQ:MBX) dropped 5.2% on Monday . The company traded as low as $28.77 and last traded at $28.72. Approximately 247,406 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 610,396 shares. The stock had previously closed at $30.28.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MBX shares. Stifel Nicolaus set a $56.00 price objective on shares of MBX Biosciences in a research note on Tuesday, May 12th. Weiss Ratings restated a “sell (d-)” rating on shares of MBX Biosciences in a report on Tuesday, April 21st. UBS Group restated a “buy” rating on shares of MBX Biosciences in a research report on Tuesday, February 24th. Citigroup reaffirmed an “outperform” rating on shares of MBX Biosciences in a report on Tuesday, May 12th. Finally, Citizens Jmp increased their price objective on MBX Biosciences from $76.00 to $86.00 and gave the company a “market outperform” rating in a research report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $60.22.

MBX Biosciences Trading Down 2.0%

The company has a fifty day simple moving average of $32.20 and a 200-day simple moving average of $32.85. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of -13.24 and a beta of 0.75.

MBX Biosciences (NASDAQ:MBX) last announced its earnings results on Thursday, March 12th. The company reported ($0.49) EPS for the quarter, topping the consensus estimate of ($0.64) by $0.15. As a group, analysts anticipate that MBX Biosciences, Inc. will post -2.84 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO P. Kent Hawryluk bought 18,500 shares of the business’s stock in a transaction on Friday, March 13th. The shares were bought at an average cost of $28.41 per share, with a total value of $525,585.00. Following the purchase, the chief executive officer directly owned 486,777 shares in the company, valued at $13,829,334.57. This trade represents a 3.95% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Russell Investments Group Ltd. boosted its position in MBX Biosciences by 4,131.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company’s stock worth $26,000 after acquiring an additional 1,446 shares during the period. FNY Investment Advisers LLC acquired a new position in shares of MBX Biosciences in the 3rd quarter valued at about $27,000. GF Fund Management CO. LTD. acquired a new position in shares of MBX Biosciences in the 4th quarter valued at about $28,000. Strs Ohio lifted its position in shares of MBX Biosciences by 128.6% in the first quarter. Strs Ohio now owns 1,600 shares of the company’s stock worth $48,000 after purchasing an additional 900 shares in the last quarter. Finally, Royal Bank of Canada boosted its holdings in shares of MBX Biosciences by 59.6% during the fourth quarter. Royal Bank of Canada now owns 1,532 shares of the company’s stock worth $49,000 after purchasing an additional 572 shares during the period.

MBX Biosciences Company Profile

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.