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

MBX Biosciences, Inc. (NYSE:MBX)’s share price gapped down prior to trading on Friday . The stock had previously closed at $20.27, but opened at $19.55. MBX Biosciences shares last traded at $20.23, with a volume of 7,935 shares trading hands.

Analysts Set New Price Targets

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

MBX Biosciences Stock Performance

The business has a 50-day moving average of $21.11.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of MBX Biosciences during the third quarter valued at approximately $694,000. NEA Management Company LLC purchased a new position in MBX Biosciences during the 3rd quarter worth approximately $93,904,000. The Manufacturers Life Insurance Company acquired a new stake in MBX Biosciences during the 3rd quarter valued at $1,200,000. Maven Securities LTD acquired a new stake in MBX Biosciences during the 3rd quarter valued at $1,299,000. Finally, RA Capital Management L.P. purchased a new stake in shares of MBX Biosciences in the third quarter valued at $39,264,000.

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.