MBX Biosciences, Inc. (NASDAQ:MBX) Sees Large Increase in Short Interest
by Danessa Lincoln · The Markets DailyMBX Biosciences, Inc. (NASDAQ:MBX – Get Free Report) was the target of a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 2,983,725 shares, a growth of 24.6% from the February 26th total of 2,395,339 shares. Currently, 6.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 596,352 shares, the short-interest ratio is presently 5.0 days.
MBX Biosciences Stock Up 10.9%
MBX traded up $2.93 on Tuesday, reaching $29.85. The company’s stock had a trading volume of 522,448 shares, compared to its average volume of 522,756. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of -12.39 and a beta of 1.06. MBX Biosciences has a fifty-two week low of $4.81 and a fifty-two week high of $44.89. The stock has a 50 day moving average of $33.77 and a two-hundred day moving average of $28.05.
MBX Biosciences (NASDAQ:MBX – Get Free Report) last released its quarterly earnings data on Thursday, March 12th. The company reported ($0.49) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.15.
Analysts Set New Price Targets
MBX has been the subject of a number of recent research reports. Barclays began coverage on MBX Biosciences in a research note on Tuesday, January 27th. They issued an “overweight” rating and a $66.00 target price for the company. Stifel Nicolaus boosted their target price on MBX Biosciences from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Truist Financial set a $50.00 price target on shares of MBX Biosciences in a research report on Monday, March 9th. UBS Group reiterated a “buy” rating on shares of MBX Biosciences in a report on Tuesday, February 24th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of MBX Biosciences in a research note on Thursday, January 22nd. Ten research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, MBX Biosciences has a consensus rating of “Moderate Buy” and an average price target of $51.56.
Check Out Our Latest Report on MBX Biosciences
Insider Buying and Selling
In other MBX Biosciences news, CEO P. Kent Hawryluk acquired 18,500 shares of the business’s stock in a transaction on Friday, March 13th. The stock was bought at an average price of $28.41 per share, for a total transaction of $525,585.00. Following the acquisition, the chief executive officer owned 486,777 shares in the company, valued at approximately $13,829,334.57. The trade was a 3.95% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.
Hedge Funds Weigh In On MBX Biosciences
Several large investors have recently bought and sold shares of MBX. Hudson Bay Capital Management LP acquired a new stake in shares of MBX Biosciences during the third quarter worth about $1,488,000. Sio Capital Management LLC acquired a new stake in shares of MBX Biosciences in the 2nd quarter valued at about $2,750,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in MBX Biosciences during the 3rd quarter worth approximately $498,000. Resolute Capital Asset Partners LLC acquired a new position in MBX Biosciences during the second quarter worth approximately $567,000. Finally, Walleye Capital LLC lifted its stake in MBX Biosciences by 116.5% in the second quarter. Walleye Capital LLC now owns 70,333 shares of the company’s stock valued at $802,000 after buying an additional 37,843 shares during the last quarter.
MBX Biosciences Company Profile
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.