MBX Biosciences (NYSE:MBX) Shares Down 7.3% – Time to Sell?

MBX Biosciences, Inc. (NYSE:MBX) shares fell 7.3% during mid-day trading on Friday . The company traded as low as $20.28 and last traded at $20.29. 22,477 shares were traded during trading, a decline of 87% from the average session volume of 175,844 shares. The stock had previously closed at $21.89.

Analysts Set New Price Targets

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

MBX Biosciences Trading Down 8.3 %

The business has a fifty day simple moving average of $20.85.

MBX Biosciences (NYSE:MBX) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($2.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.72) by ($0.06). Equities analysts anticipate that MBX Biosciences, Inc. will post -13.21 earnings per share for the current year.

Institutional Trading of MBX Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Frazier Life Sciences Management L.P. bought a new position in MBX Biosciences in the 3rd quarter worth $155,499,000. NEA Management Company LLC purchased a new stake in MBX Biosciences in the third quarter worth about $93,904,000. Wellington Management Group LLP bought a new stake in MBX Biosciences during the 3rd quarter valued at approximately $74,261,000. RA Capital Management L.P. bought a new stake in MBX Biosciences during the 3rd quarter valued at approximately $39,264,000. Finally, Franklin Resources Inc. bought a new position in shares of MBX Biosciences in the 3rd quarter worth approximately $11,691,000.

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.