MBX Biosciences’ (MBX) Buy Rating Reaffirmed at Guggenheim

MBX Biosciences (NYSE:MBX)‘s stock had its “buy” rating reissued by research analysts at Guggenheim in a note issued to investors on Thursday,Benzinga reports. They presently have a $44.00 price objective on the stock.

Separately, JMP Securities started coverage on MBX Biosciences in a research note on Thursday. They set a “market outperform” rating and a $38.00 target price for the company. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $37.40.

MBX Biosciences Stock Performance

Shares of NYSE:MBX traded down $0.19 during trading on Thursday, reaching $6.21. 85,504 shares of the company traded hands, compared to its average volume of 235,206. The company’s 50 day moving average is $9.04 and its two-hundred day moving average is $15.77. MBX Biosciences has a 52 week low of $4.81 and a 52 week high of $27.50.

Insiders Place Their Bets

In related news, Director Carl L. Gordon bought 47,502 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were bought at an average price of $9.87 per share, for a total transaction of $468,844.74. Following the transaction, the director now directly owns 3,205,930 shares of the company’s stock, valued at approximately $31,642,529.10. The trade was a 1.50 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO P. Kent Hawryluk acquired 50,000 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were bought at an average cost of $10.69 per share, for a total transaction of $534,500.00. Following the transaction, the chief executive officer now directly owns 448,277 shares in the company, valued at approximately $4,792,081.13. This represents a 12.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 240,672 shares of company stock valued at $2,555,308.

Hedge Funds Weigh In On MBX Biosciences

A number of large investors have recently modified their holdings of MBX. Teachers Retirement System of The State of Kentucky bought a new stake in shares of MBX Biosciences during the third quarter worth about $694,000. Barclays PLC purchased a new stake in shares of MBX Biosciences in the third quarter worth approximately $426,000. Geode Capital Management LLC bought a new position in shares of MBX Biosciences in the third quarter valued at approximately $579,000. Charles Schwab Investment Management Inc. bought a new stake in MBX Biosciences during the fourth quarter worth $1,720,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in MBX Biosciences in the 3rd quarter valued at $1,200,000.

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.