MBX Biosciences (NYSE:MBX) Stock Price Up 4.6% - Time to Buy?

MBX Biosciences, Inc. (NYSE:MBX) experienced an increase of 4.6% in its stock price on Tuesday. The stock reached a high of $20.74 during the trading session, before closing at $20.02. A total of about 19,745 shares were traded, which is significantly lower than the average daily volume of 131,484 shares. The previous closing price for the stock was $19.14.

Analysts Set New Price Targets

Several brokerages have recently provided insights on MBX Biosciences. Notably, JPMorgan Chase & Co. initiated coverage on October 8th and rated the stock as "overweight" with a price target of $30.00. In addition, the Jefferies Financial Group assigned a "buy" rating with a target price of $35.00. Stifel Nicolaus also began coverage on the same day, giving a "buy" rating and a price target of $40.00. Lastly, Guggenheim started coverage and set an ambitious price objective of $44.00 for the stock.

MBX Biosciences Stock Performance

The stock currently has a 50-day moving average price of $21.29. MBX Biosciences released its latest quarterly earnings results on November 7th, reporting an earnings per share (EPS) of ($2.78). This figure fell short of analysts' consensus estimates, which were projected at ($2.72), by $0.06. Analysts predict that the company will present a total EPS of -$13.21 for the current year.

Institutional Inflows and Outflows

Recent changes in stock positions by large investors have caught attention. Point72 Asia Singapore Pte. Ltd. acquired a new stake in MBX Biosciences during the third quarter, investing approximately $278,000. Point72 Asset Management L.P. also obtained a new stake valued around $405,000. Barclays PLC added a new position in the same quarter worth $426,000, while Geode Capital Management LLC invested about $579,000 into MBX Biosciences. Finally, Point72 DIFC Ltd. acquired shares worth $624,000 during this time.

About MBX Biosciences

MBX Biosciences, Inc. is a clinical-stage biopharmaceutical company that specializes in the discovery and development of precision peptide therapies aimed at treating endocrine and metabolic disorders. Its leading product candidate, MBX 2109, is a parathyroid hormone peptide prodrug currently in Phase 2 clinical trials, designed as a potential long-acting hormone replacement therapy for managing chronic hypoparathyroidism.

Should you invest $1,000 in MBX Biosciences right now?

Before making any investment decisions regarding MBX Biosciences, it’s essential to consider various factors. Currently, while analysts maintain a "Buy" rating for MBX Biosciences, it is worth noting that top-rated analysts have identified five other stocks they believe may be better buying opportunities at this time.

MBX, Investment, Stocks