MBX Biosciences (NYSE:MBX) Coverage Initiated at Citizens Jmp

Citizens Jmp initiated coverage on shares of MBX Biosciences (NYSE:MBX) in a research report released on Thursday, Marketbeat reports. The brokerage issued an outperform rating and a $38.00 price target on the stock.

A number of other brokerages also recently weighed in on MBX. Guggenheim reaffirmed a “buy” rating and set a $44.00 price objective on shares of MBX Biosciences in a research report on Thursday. JMP Securities began coverage on shares of MBX Biosciences in a report on Thursday. They issued a “market outperform” rating and a $38.00 price target on the stock. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, MBX Biosciences presently has an average rating of “Buy” and a consensus target price of $37.50.

MBX Biosciences Stock Down 2.0 %

Shares of NYSE MBX opened at $6.27 on Thursday. MBX Biosciences has a 12-month low of $4.81 and a 12-month high of $27.50. The stock’s fifty day simple moving average is $8.95 and its two-hundred day simple moving average is $15.66.

Insider Buying and Selling

In other MBX Biosciences news, Director Ora H. Pescovitz purchased 7,693 shares of the stock in a transaction on Tuesday, April 8th. The stock was acquired at an average price of $5.89 per share, with a total value of $45,311.77. Following the completion of the acquisition, the director now owns 24,329 shares in the company, valued at $143,297.81. The trade was a 46.24 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO P. Kent Hawryluk purchased 50,000 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were acquired at an average price of $10.69 per share, for a total transaction of $534,500.00. Following the purchase, the chief executive officer now directly owns 448,277 shares of the company’s stock, valued at approximately $4,792,081.13. The trade was a 12.55 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 248,365 shares of company stock worth $2,600,619 in the last ninety days.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MBX. Driehaus Capital Management LLC grew its holdings in shares of MBX Biosciences by 61.2% during the fourth quarter. Driehaus Capital Management LLC now owns 1,581,760 shares of the company’s stock valued at $29,152,000 after buying an additional 600,438 shares during the last quarter. Woodline Partners LP grew its stake in MBX Biosciences by 17.1% during the 4th quarter. Woodline Partners LP now owns 608,721 shares of the company’s stock valued at $11,219,000 after purchasing an additional 89,046 shares during the last quarter. Franklin Resources Inc. acquired a new position in shares of MBX Biosciences in the third quarter valued at about $11,691,000. Geode Capital Management LLC increased its holdings in shares of MBX Biosciences by 1,093.2% in the fourth quarter. Geode Capital Management LLC now owns 265,703 shares of the company’s stock valued at $4,898,000 after purchasing an additional 243,434 shares during the period. Finally, Citadel Advisors LLC raised its stake in shares of MBX Biosciences by 62.5% in the fourth quarter. Citadel Advisors LLC now owns 220,330 shares of the company’s stock worth $4,061,000 after purchasing an additional 84,722 shares during the last quarter.

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.