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

MBX Biosciences, Inc. (NASDAQ:MBX) shares gapped down prior to trading on Tuesday . The stock had previously closed at $60.04, but opened at $52.82. MBX Biosciences shares last traded at $55.83, with a volume of 305,802 shares.

Wall Street Analyst Weigh In

MBX has been the topic of a number of research reports. Lifesci Capital upgraded shares of MBX Biosciences to a “strong-buy” rating in a report on Tuesday, March 31st. Barclays increased their price target 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 price target on shares of MBX Biosciences from $76.00 to $86.00 and gave the company a “market outperform” rating in a research report on Tuesday, May 12th. Truist Financial upped their price objective on shares of MBX Biosciences from $50.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MBX Biosciences in a research note on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, MBX Biosciences has a consensus rating of “Moderate Buy” and an average target price of $63.00.

MBX Biosciences Stock Up 7.2%

The firm has a market capitalization of $2.89 billion, a P/E ratio of -27.45 and a beta of 0.16. The company has a fifty day simple moving average of $42.05 and a 200 day simple moving average of $36.48.

Institutional Trading of MBX Biosciences

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

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.