MBX Biosciences (NYSE:MBX) Research Coverage Started at Citizens Jmp

Citizens Jmp began coverage on shares of MBX Biosciences (NYSE:MBX) in a research report sent to investors on Thursday morning, Marketbeat reports. The firm issued an outperform rating and a $38.00 target price on the stock.

MBX has been the topic of several other reports. JMP Securities began coverage on shares of MBX Biosciences in a research note on Thursday. They issued a “market outperform” rating and a $38.00 price target on the stock. Guggenheim reissued a “buy” rating and issued a $44.00 target price on shares of MBX Biosciences in a research note on Thursday. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $37.50.

MBX Biosciences Stock Performance

MBX opened at $7.41 on Thursday. MBX Biosciences has a twelve month low of $4.81 and a twelve month high of $27.50. The company has a 50-day moving average price of $8.88 and a 200 day moving average price of $15.55.

Insider Buying and Selling

In other news, Director Ora H. Pescovitz acquired 7,693 shares of the firm’s stock in a transaction dated Tuesday, April 8th. The stock was acquired at an average cost of $5.89 per share, with a total value of $45,311.77. Following the completion of the acquisition, the director now owns 24,329 shares of the company’s stock, valued at $143,297.81. The trade was a 46.24 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO P. Kent Hawryluk purchased 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were acquired at an average price of $10.69 per share, with a total value of $534,500.00. Following the purchase, the chief executive officer now owns 448,277 shares in the company, valued at $4,792,081.13. This trade represents a 12.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 248,365 shares of company stock worth $2,600,619 over the last 90 days.

Institutional Investors Weigh In On MBX Biosciences

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

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.