MBX Biosciences (NASDAQ:MBX) Shares Down 6.9% – Here’s Why

MBX Biosciences, Inc. (NASDAQ:MBX) shares were down 6.9% on Friday . The stock traded as low as $60.01 and last traded at $61.1710. 89,466 shares were traded during trading, a decline of 87% from the average session volume of 697,320 shares. The stock had previously closed at $65.71.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. TD Cowen reissued a “buy” rating on shares of MBX Biosciences in a research report on Thursday, March 12th. Citizens Jmp increased their price objective on MBX Biosciences from $76.00 to $86.00 and gave the stock a “market outperform” rating in a research note on Tuesday, May 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MBX Biosciences in a research report on Tuesday, April 21st. Stifel Nicolaus set a $56.00 price objective on shares of MBX Biosciences in a report on Tuesday, May 12th. Finally, Barclays increased their target price on shares of MBX Biosciences from $66.00 to $70.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $60.22.

MBX Biosciences Price Performance

The firm has a fifty day simple moving average of $39.70 and a two-hundred day simple moving average of $35.73. The firm has a market capitalization of $2.89 billion, a P/E ratio of -27.50 and a beta of 0.16.

Institutional Investors Weigh In On MBX Biosciences

Institutional investors have recently added to or reduced their stakes in the business. Hudson Bay Capital Management LP bought a new position in MBX Biosciences in the 3rd quarter worth approximately $1,488,000. Ghisallo Capital Management LLC bought a new position in shares of MBX Biosciences in the third quarter worth $669,000. Aaron Wealth Advisors LLC grew its position in shares of MBX Biosciences by 40.0% in the fourth quarter. Aaron Wealth Advisors LLC now owns 70,000 shares of the company’s stock valued at $2,208,000 after purchasing an additional 20,000 shares in the last quarter. Goelzer Investment Management Inc. bought a new stake in shares of MBX Biosciences during the 4th quarter valued at $6,992,000. Finally, Baker BROS. Advisors LP purchased a new stake in MBX Biosciences during the 3rd quarter worth about $4,861,000.

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.