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

MBX Biosciences, Inc. (NYSE:MBX) gapped down before the market opened on Monday . The stock had previously closed at $22.91, but opened at $21.02. MBX Biosciences shares last traded at $22.77, with a volume of 9,470 shares traded.

Analysts Set New Price Targets

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

MBX Biosciences Stock Performance

MBX Biosciences (NYSE:MBX) last released 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). As a group, sell-side analysts forecast that MBX Biosciences, Inc. will post -13.21 earnings per share for the current fiscal year.

Insider Activity

In other MBX Biosciences news, major shareholder Life Sciences X. L.P. Frazier acquired 625,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were bought at an average cost of $16.00 per share, with a total value of $10,000,000.00. Following the purchase, the insider now directly owns 4,552,774 shares of the company’s stock, valued at $72,844,384. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Edward T. Mathers purchased 500,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were acquired at an average price of $16.00 per share, for a total transaction of $8,000,000.00. Following the completion of the acquisition, the director now owns 3,614,486 shares in the company, valued at approximately $57,831,776. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Life Sciences X. L.P. Frazier purchased 625,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were acquired at an average price of $16.00 per share, with a total value of $10,000,000.00. Following the purchase, the insider now directly owns 4,552,774 shares in the company, valued at $72,844,384. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here.

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.