MBX Biosciences (NYSE:MBX) Shares Up 4.6% – Should You Buy?

MBX Biosciences, Inc. (NYSE:MBX)’s stock price shot up 4.6% during trading on Tuesday . The company traded as high as $20.74 and last traded at $20.02. 19,745 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 131,484 shares. The stock had previously closed at $19.14.

Analyst Upgrades and Downgrades

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

MBX Biosciences Price Performance

The company’s 50 day moving average is $21.18.

MBX Biosciences (NYSE:MBX) last announced its quarterly earnings results 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). As a group, analysts anticipate that MBX Biosciences, Inc. will post -13.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MBX Biosciences

A number of large investors have recently made changes to their positions in MBX. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of MBX Biosciences during the third quarter valued at about $278,000. Point72 Asset Management L.P. purchased a new stake in MBX Biosciences in the third quarter worth about $405,000. Barclays PLC bought a new position in shares of MBX Biosciences during the third quarter valued at approximately $426,000. Geode Capital Management LLC purchased a new position in shares of MBX Biosciences during the third quarter valued at approximately $579,000. Finally, Point72 DIFC Ltd bought a new stake in shares of MBX Biosciences in the 3rd quarter worth approximately $624,000.

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.