MBX Biosciences (NYSE:MBX) Stock Price Down 7.3% – What’s Next?

MBX Biosciences, Inc. (NYSE:MBX) was down 7.3% on Friday . The stock traded as low as $20.28 and last traded at $20.29. Approximately 22,477 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 175,844 shares. The stock had previously closed at $21.89.

Analyst Ratings Changes

MBX has been the topic of a number of analyst reports. Stifel Nicolaus started coverage on MBX Biosciences in a research note on Tuesday, October 8th. They set a “buy” rating and a $40.00 price objective on the stock. JPMorgan Chase & Co. assumed coverage on MBX Biosciences in a research report on Tuesday, October 8th. They set an “overweight” rating and a $30.00 price target on the stock. Jefferies Financial Group began coverage on shares of MBX Biosciences in a report on Tuesday, October 8th. They issued a “buy” rating and a $35.00 price target on the stock. Finally, Guggenheim began coverage on shares of MBX Biosciences in a research note on Tuesday, October 8th. They set a “buy” rating and a $44.00 price objective for the company.

MBX Biosciences Stock Down 8.3 %

The business’s 50 day simple moving average is $20.77.

MBX Biosciences (NYSE:MBX) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($2.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.72) by ($0.06). On average, equities analysts anticipate that MBX Biosciences, Inc. will post -13.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MBX Biosciences

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