MBX Biosciences (NASDAQ:MBX) Shares Down 5.6% – Should You Sell?

MBX Biosciences, Inc. (NASDAQ:MBX) fell 5.6% during mid-day trading on Tuesday . The stock traded as low as $29.63 and last traded at $29.64. 165,911 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 622,203 shares. The stock had previously closed at $31.39.

Analyst Upgrades and Downgrades

MBX has been the topic of a number of analyst reports. Guggenheim cut their target price on MBX Biosciences from $84.00 to $77.00 and set a “buy” rating on the stock in a research note on Monday, November 10th. Cowen started coverage on MBX Biosciences in a report on Tuesday, November 4th. They issued a “buy” rating for the company. Citigroup reissued an “outperform” rating on shares of MBX Biosciences in a report on Monday, September 22nd. TD Cowen began coverage on MBX Biosciences in a research report on Tuesday, November 4th. They issued a “buy” rating for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of MBX Biosciences in a report on Wednesday, October 8th. Nine analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat, MBX Biosciences has a consensus rating of “Moderate Buy” and an average price target of $45.00.

MBX Biosciences Trading Down 4.9%

The stock’s 50 day moving average is $22.43. The company has a market cap of $1.34 billion, a price-to-earnings ratio of -12.57 and a beta of 0.71.

MBX Biosciences (NASDAQ:MBX) last issued its earnings results on Thursday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.10.

Insider Transactions at MBX Biosciences

In other MBX Biosciences news, CEO P. Kent Hawryluk bought 20,000 shares of MBX Biosciences stock in a transaction that occurred on Monday, October 20th. The stock was purchased at an average price of $13.64 per share, with a total value of $272,800.00. Following the completion of the acquisition, the chief executive officer directly owned 468,277 shares in the company, valued at approximately $6,387,298.28. This trade represents a 4.46% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Patrick J. Heron purchased 666,666 shares of the business’s stock in a transaction on Friday, September 26th. The shares were bought at an average cost of $18.00 per share, for a total transaction of $11,999,988.00. Following the completion of the transaction, the director directly owned 5,219,440 shares in the company, valued at $93,949,920. This trade represents a 14.64% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 706,666 shares of company stock worth $12,537,788 over the last 90 days.

Institutional Investors Weigh In On MBX Biosciences

Hedge funds have recently modified their holdings of the business. Wellington Management Group LLP grew its stake in MBX Biosciences by 112.8% during the 3rd quarter. Wellington Management Group LLP now owns 4,823,336 shares of the company’s stock valued at $84,408,000 after acquiring an additional 2,556,708 shares in the last quarter. MPM Bioimpact LLC purchased a new stake in shares of MBX Biosciences in the 1st quarter valued at approximately $8,361,000. Deep Track Capital LP increased its holdings in shares of MBX Biosciences by 43.9% during the 3rd quarter. Deep Track Capital LP now owns 3,150,000 shares of the company’s stock worth $55,125,000 after buying an additional 961,408 shares during the last quarter. Franklin Resources Inc. raised its position in shares of MBX Biosciences by 164.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,307,288 shares of the company’s stock valued at $22,878,000 after buying an additional 812,436 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in MBX Biosciences by 60.7% in the third quarter. Vanguard Group Inc. now owns 1,677,362 shares of the company’s stock valued at $29,354,000 after acquiring an additional 633,678 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.