MBX Biosciences, Inc. (NYSE:MBX) Receives $37.40 Consensus Price Target from Brokerages

MBX Biosciences, Inc. (NYSE:MBX) has received an average recommendation of “Buy” from the six research firms that are presently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $37.50.

MBX has been the topic of a number of research analyst reports. JMP Securities began coverage on MBX Biosciences in a research note on Thursday. They issued a “market outperform” rating and a $38.00 target price on the stock. Citizens Jmp assumed coverage on shares of MBX Biosciences in a research note on Thursday. They set an “outperform” rating and a $38.00 price objective for the company. Finally, Guggenheim reaffirmed a “buy” rating and issued a $44.00 target price on shares of MBX Biosciences in a research report on Thursday.

MBX Biosciences Trading Up 18.2 %

Shares of NYSE MBX opened at $7.41 on Thursday. The company has a 50-day moving average price of $8.88 and a 200-day moving average price of $15.55. MBX Biosciences has a 1 year low of $4.81 and a 1 year high of $27.50.

Insiders Place Their Bets

In other MBX Biosciences news, Director Ora H. Pescovitz purchased 7,693 shares of the firm’s stock in a transaction on Tuesday, April 8th. The shares were acquired at an average cost of $5.89 per share, with a total value of $45,311.77. Following the completion of the acquisition, the director now directly owns 24,329 shares in the company, valued at $143,297.81. The trade was a 46.24 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Carl L. Gordon bought 143,170 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average cost of $10.84 per share, for a total transaction of $1,551,962.80. Following the purchase, the director now directly owns 3,255,000 shares in the company, valued at $35,284,200. This trade represents a 4.60 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 248,365 shares of company stock worth $2,600,619.

Hedge Funds Weigh In On MBX Biosciences

Hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets bought a new stake in MBX Biosciences in the 4th quarter valued at $27,000. Virtus ETF Advisers LLC purchased a new position in shares of MBX Biosciences in the 4th quarter worth $64,000. Deutsche Bank AG bought a new stake in shares of MBX Biosciences in the 4th quarter worth about $80,000. Corebridge Financial Inc. purchased a new stake in shares of MBX Biosciences during the 4th quarter valued at about $103,000. Finally, Wells Fargo & Company MN bought a new position in shares of MBX Biosciences in the 4th quarter valued at about $108,000.

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.