MBX Biosciences (NYSE:MBX) Shares Gap Down – Here’s Why

MBX Biosciences, Inc. (NYSE:MBX)’s stock price gapped down before the market opened 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 traded.

Analyst Ratings Changes

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

MBX Biosciences Stock Performance

The business’s 50-day simple moving average is $19.93.

MBX Biosciences (NYSE:MBX) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($2.78) EPS for the quarter, missing analysts’ consensus estimates of ($2.72) by ($0.06). 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 hedge funds have recently modified their holdings of MBX. Frazier Life Sciences Management L.P. purchased a new position in MBX Biosciences during the third quarter valued at $155,499,000. NEA Management Company LLC bought a new stake in MBX Biosciences in the 3rd quarter worth about $93,904,000. Wellington Management Group LLP purchased a new position in shares of MBX Biosciences during the third quarter valued at approximately $74,261,000. RA Capital Management L.P. purchased a new stake in MBX Biosciences during the 3rd quarter valued at $39,264,000. Finally, Franklin Resources Inc. purchased a new stake in MBX Biosciences during the third quarter valued at $11,691,000.

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.