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

MBX Biosciences, Inc. (NYSE:MBX)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $16.28, but opened at $15.75. MBX Biosciences shares last traded at $15.76, with a volume of 36,026 shares.

Analyst Upgrades and Downgrades

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

MBX Biosciences Price Performance

The company has a 50-day simple moving average of $20.23.

MBX Biosciences (NYSE:MBX) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($2.78) EPS for the quarter, missing the consensus estimate 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 Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in MBX Biosciences during the 3rd quarter valued at approximately $278,000. Point72 Asset Management L.P. purchased a new stake in MBX Biosciences in the third quarter valued at $405,000. Barclays PLC purchased a new position in shares of MBX Biosciences during the 3rd quarter valued at about $426,000. Geode Capital Management LLC purchased a new position in shares of MBX Biosciences during the 3rd quarter valued at about $579,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of MBX Biosciences in the third quarter worth about $624,000.

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.