MBX Biosciences (NYSE:MBX) Shares Gap Up – What’s Next?

Shares of MBX Biosciences, Inc. (NYSE:MBX) gapped up prior to trading on Monday . The stock had previously closed at $18.94, but opened at $19.45. MBX Biosciences shares last traded at $19.85, with a volume of 20,621 shares changing hands.

Analyst Ratings Changes

Several research analysts have issued reports on MBX shares. JPMorgan Chase & Co. initiated coverage on shares of MBX Biosciences in a report on Tuesday, October 8th. They set an “overweight” rating and a $30.00 price target for the company. Stifel Nicolaus started coverage on shares of MBX Biosciences in a research note on Tuesday, October 8th. They set a “buy” rating and a $40.00 target price for the company. Jefferies Financial Group began coverage on shares of MBX Biosciences in a report on Tuesday, October 8th. They issued a “buy” rating and a $35.00 target price on the stock. Finally, Guggenheim started coverage on MBX Biosciences in a report on Tuesday, October 8th. They set a “buy” rating and a $44.00 price target for the company.

MBX Biosciences Trading Up 4.1 %

The firm’s 50 day simple moving average is $21.39.

MBX Biosciences (NYSE:MBX) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($2.78) earnings per share for the quarter, missing the consensus estimate of ($2.72) by ($0.06). On average, equities analysts expect that MBX Biosciences, Inc. will post -13.21 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MBX. Franklin Resources Inc. bought a new stake in shares of MBX Biosciences during the third quarter valued at approximately $11,691,000. Barclays PLC acquired a new stake in MBX Biosciences in the 3rd quarter valued at $426,000. Teachers Retirement System of The State of Kentucky bought a new stake in MBX Biosciences during the 3rd quarter valued at $694,000. Geode Capital Management LLC acquired a new position in MBX Biosciences during the third quarter worth $579,000. Finally, Frazier Life Sciences Management L.P. bought a new position in shares of MBX Biosciences in the third quarter valued at $155,499,000.

About MBX Biosciences

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.