Guggenheim Reiterates Buy Rating for MBX Biosciences (NYSE:MBX)

MBX Biosciences (NYSE:MBX)‘s stock had its “buy” rating reiterated by analysts at Guggenheim in a report issued on Thursday,Benzinga reports. They currently have a $44.00 target price on the stock. Guggenheim’s price objective would indicate a potential upside of 493.79% from the stock’s previous close.

Separately, JMP Securities began coverage on MBX Biosciences in a research report on Thursday. They set a “market outperform” rating and a $38.00 price target on the stock. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $37.50.

MBX Biosciences Price Performance

MBX opened at $7.41 on Thursday. MBX Biosciences has a 12-month low of $4.81 and a 12-month high of $27.50. The firm has a 50 day moving average of $8.88 and a two-hundred day moving average of $15.55.

Insider Buying and Selling

In other MBX Biosciences news, Director Ora H. Pescovitz purchased 7,693 shares of the business’s stock in a transaction that occurred on Tuesday, April 8th. The stock was purchased at an average price of $5.89 per share, for a total transaction of $45,311.77. Following the purchase, the director now directly owns 24,329 shares in the company, valued at approximately $143,297.81. This trade represents a 46.24 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carl L. Gordon purchased 47,502 shares of MBX Biosciences stock in a transaction that occurred on Friday, February 14th. The stock was acquired at an average cost of $9.87 per share, with a total value of $468,844.74. Following the acquisition, the director now directly owns 3,205,930 shares in the company, valued at $31,642,529.10. This trade represents a 1.50 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 248,365 shares of company stock valued at $2,600,619.

Institutional Trading of MBX Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets acquired a new stake in MBX Biosciences in the 4th quarter valued at $27,000. Virtus ETF Advisers LLC purchased a new position in MBX Biosciences during the fourth quarter valued at $64,000. The Manufacturers Life Insurance Company grew its position in shares of MBX Biosciences by 7.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 49,675 shares of the company’s stock valued at $916,000 after purchasing an additional 3,481 shares during the period. Deutsche Bank AG purchased a new stake in shares of MBX Biosciences during the fourth quarter worth about $80,000. Finally, Corebridge Financial Inc. acquired a new position in shares of MBX Biosciences during the 4th quarter worth about $103,000.

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.