MBX Biosciences (NYSE:MBX) Shares Gap Up – Time to Buy?

MBX Biosciences, Inc. (NYSE:MBX) shares gapped up before the market opened on Monday . The stock had previously closed at $18.94, but opened at $19.45. MBX Biosciences shares last traded at $19.85, with a volume of 20,621 shares changing hands.

Wall Street Analysts Forecast Growth

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

MBX Biosciences Trading Up 4.0 %

The company’s 50 day simple moving average is $21.25.

MBX Biosciences (NYSE:MBX) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($2.78) earnings per share for the quarter, missing the consensus estimate of ($2.72) by ($0.06). Analysts anticipate that MBX Biosciences, Inc. will post -13.21 earnings per share for the current year.

Hedge Funds Weigh In On MBX Biosciences

Institutional investors have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of MBX Biosciences during the third quarter worth approximately $278,000. Point72 Asset Management L.P. acquired a new position in shares of MBX Biosciences during the 3rd quarter worth about $405,000. Barclays PLC bought a new stake in MBX Biosciences in the 3rd quarter valued at $426,000. Geode Capital Management LLC bought a new stake in shares of MBX Biosciences in the third quarter valued at about $579,000. Finally, Point72 DIFC Ltd bought a new stake in shares of MBX Biosciences in the third quarter valued at about $624,000.

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.