MBX Biosciences, Inc. (NASDAQ:MBX) Sees Large Increase in Short Interest

MBX Biosciences, Inc. (NASDAQ:MBX) was the target of a large increase in short interest in March. As of March 31st, there was short interest totaling 3,593,407 shares, an increase of 20.4% from the March 15th total of 2,983,725 shares. Currently, 15.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 450,952 shares, the short-interest ratio is currently 8.0 days.

Insider Transactions at MBX Biosciences

In related news, CEO P. Kent Hawryluk purchased 18,500 shares of MBX Biosciences stock in a transaction that occurred on Friday, March 13th. The shares were acquired at an average price of $28.41 per share, for a total transaction of $525,585.00. Following the transaction, the chief executive officer directly owned 486,777 shares in the company, valued at approximately $13,829,334.57. This represents a 3.95% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 52.19% of the stock is currently owned by company insiders.

Institutional Trading of MBX Biosciences

Hedge funds have recently modified their holdings of the company. GF Fund Management CO. LTD. acquired a new stake in shares of MBX Biosciences in the 4th quarter valued at approximately $28,000. Russell Investments Group Ltd. raised its position in shares of MBX Biosciences by 4,131.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company’s stock valued at $26,000 after acquiring an additional 1,446 shares during the period. Royal Bank of Canada raised its position in shares of MBX Biosciences by 59.6% in the 4th quarter. Royal Bank of Canada now owns 1,532 shares of the company’s stock valued at $49,000 after acquiring an additional 572 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of MBX Biosciences in the 3rd quarter valued at approximately $27,000. Finally, California State Teachers Retirement System raised its position in shares of MBX Biosciences by 64.7% in the 4th quarter. California State Teachers Retirement System now owns 1,754 shares of the company’s stock valued at $55,000 after acquiring an additional 689 shares during the period.

MBX Biosciences Trading Up 1.7%

Shares of NASDAQ:MBX traded up $0.55 during mid-day trading on Friday, reaching $33.77. The stock had a trading volume of 306,779 shares, compared to its average volume of 433,704. The firm has a market cap of $1.60 billion, a PE ratio of -14.01 and a beta of 1.25. The firm has a 50 day simple moving average of $32.31 and a two-hundred day simple moving average of $29.46. MBX Biosciences has a twelve month low of $7.20 and a twelve month high of $44.89.

MBX Biosciences (NASDAQ:MBX) last announced its quarterly earnings results on Thursday, March 12th. The company reported ($0.49) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.15.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of MBX Biosciences in a research report on Thursday, January 22nd. UBS Group restated a “buy” rating on shares of MBX Biosciences in a research report on Tuesday, February 24th. Barclays assumed coverage on shares of MBX Biosciences in a research report on Tuesday, January 27th. They set an “overweight” rating and a $66.00 target price on the stock. Guggenheim upped their target price on shares of MBX Biosciences from $77.00 to $88.00 and gave the company a “buy” rating in a research report on Friday, January 16th. Finally, TD Cowen restated a “buy” rating on shares of MBX Biosciences in a research report on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $53.25.

About MBX Biosciences

We are a clinical-stage biopharmaceutical company focused on the discovery and development of novel precision peptide therapies for the treatment of endocrine and metabolic disorders. Our company was founded by global leaders with a transformative approach to peptide drug design and development. Leveraging this expertise, we designed our proprietary Precision Endocrine Peptide™, or PEPTM, platform to overcome the key limitations of unmodified and modified peptide therapies and to improve clinical outcomes and simplify disease management for patients.