MBX Biosciences (NASDAQ:MBX) Sees Large Volume Increase – What’s Next?

MBX Biosciences, Inc. (NASDAQ:MBX) shares saw unusually-strong trading volume on Thursday . Approximately 822,333 shares traded hands during mid-day trading, an increase of 34% from the previous session’s volume of 614,322 shares.The stock last traded at $33.3220 and had previously closed at $30.99.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on MBX shares. Wall Street Zen cut shares of MBX Biosciences from a “hold” rating to a “sell” rating in a research note on Sunday, May 17th. Barclays lifted their target price on shares of MBX Biosciences from $66.00 to $70.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. Citizens Jmp lifted their target price on shares of MBX Biosciences from $76.00 to $86.00 and gave the stock a “market outperform” rating in a research note on Tuesday, May 12th. Lifesci Capital raised shares of MBX Biosciences to a “strong-buy” rating in a research note on Tuesday, March 31st. Finally, UBS Group reaffirmed a “buy” rating on shares of MBX Biosciences in a research note on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $60.22.

MBX Biosciences Stock Up 14.5%

The stock has a 50-day moving average of $32.28 and a 200 day moving average of $32.88. The stock has a market cap of $1.69 billion, a PE ratio of -16.06 and a beta of 0.75.

MBX Biosciences (NASDAQ:MBX) last released its quarterly earnings data on Thursday, March 12th. The company reported ($0.49) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.15. Research analysts forecast that MBX Biosciences, Inc. will post -2.84 EPS for the current fiscal year.

Insider Buying and Selling at MBX Biosciences

In other news, CEO P. Kent Hawryluk purchased 18,500 shares of the stock in a transaction dated Friday, March 13th. The shares were purchased at an average price of $28.41 per share, with a total value of $525,585.00. Following the transaction, the chief executive officer owned 486,777 shares in the company, valued at $13,829,334.57. The trade was a 3.95% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 52.19% of the company’s stock.

Institutional Investors Weigh In On MBX Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Stempoint Capital LP increased its position in MBX Biosciences by 535.8% during the first quarter. Stempoint Capital LP now owns 499,469 shares of the company’s stock worth $14,909,000 after purchasing an additional 420,916 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in MBX Biosciences during the first quarter worth about $308,000. California State Teachers Retirement System increased its position in MBX Biosciences by 1,197.9% during the first quarter. California State Teachers Retirement System now owns 22,765 shares of the company’s stock worth $680,000 after purchasing an additional 21,011 shares during the last quarter. Rock Springs Capital Management LP increased its position in MBX Biosciences by 1.9% during the first quarter. Rock Springs Capital Management LP now owns 287,967 shares of the company’s stock worth $8,596,000 after purchasing an additional 5,343 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in MBX Biosciences by 30.3% during the first quarter. The Manufacturers Life Insurance Company now owns 90,634 shares of the company’s stock worth $2,705,000 after purchasing an additional 21,083 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.