MBX Biosciences (NASDAQ:MBX) Stock Price Down 6.5% – What’s Next?

MBX Biosciences, Inc. (NASDAQ:MBX)’s stock price fell 6.5% during trading on Thursday . The company traded as low as $37.09 and last traded at $37.6810. 454,004 shares were traded during mid-day trading, a decline of 36% from the average session volume of 704,603 shares. The stock had previously closed at $40.31.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MBX. TD Cowen initiated coverage on MBX Biosciences in a research report on Tuesday, November 4th. They set a “buy” rating on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of MBX Biosciences in a research report on Thursday, January 22nd. Wall Street Zen raised shares of MBX Biosciences from a “sell” rating to a “hold” rating in a research note on Sunday, December 21st. Guggenheim upped their target price on MBX Biosciences from $77.00 to $88.00 and gave the company a “buy” rating in a research note on Friday, January 16th. Finally, Stifel Nicolaus raised their price target on MBX Biosciences from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Ten research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $51.56.

MBX Biosciences Trading Down 8.1%

The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of -15.51 and a beta of 0.87. The firm’s fifty day moving average price is $35.01.

Hedge Funds Weigh In On MBX Biosciences

Several institutional investors and hedge funds have recently modified their holdings of MBX. Russell Investments Group Ltd. raised its position in shares of MBX Biosciences by 4,131.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company’s stock worth $26,000 after purchasing an additional 1,446 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of MBX Biosciences in the third quarter valued at approximately $27,000. GF Fund Management CO. LTD. acquired a new position in MBX Biosciences during the fourth quarter worth $28,000. Royal Bank of Canada grew 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 valued at $49,000 after buying an additional 572 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of MBX Biosciences by 117.9% in the third quarter. BNP Paribas Financial Markets now owns 2,896 shares of the company’s stock valued at $51,000 after purchasing an additional 1,567 shares during the period.

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.