MBX Biosciences, Inc. (NASDAQ:MBX) Sees Significant Increase in Short Interest
by Renee Jackson · The Cerbat GemMBX Biosciences, Inc. (NASDAQ:MBX – Get Free Report) was the target of a significant growth in short interest in the month of March. As of March 31st, there was short interest totaling 3,593,407 shares, a growth of 20.4% from the March 15th total of 2,983,725 shares. Currently, 15.8% of the company’s stock are sold short. Based on an average daily trading volume, of 450,952 shares, the days-to-cover ratio is currently 8.0 days.
Insider Buying and Selling
In other MBX Biosciences news, CEO P. Kent Hawryluk bought 18,500 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were purchased 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. This represents a 3.95% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 52.19% of the company’s stock.
Hedge Funds Weigh In On MBX Biosciences
Hedge funds have recently made changes to their positions in the business. CWM LLC grew its position in shares of MBX Biosciences by 28.9% during the fourth quarter. CWM LLC now owns 1,784 shares of the company’s stock worth $56,000 after purchasing an additional 400 shares in the last quarter. Royal Bank of Canada lifted its holdings in MBX Biosciences by 59.6% in the 4th quarter. Royal Bank of Canada now owns 1,532 shares of the company’s stock worth $49,000 after purchasing an additional 572 shares in the last quarter. California State Teachers Retirement System boosted its stake in MBX Biosciences by 64.7% in the 4th quarter. California State Teachers Retirement System now owns 1,754 shares of the company’s stock worth $55,000 after purchasing an additional 689 shares during the period. GF Fund Management CO. LTD. purchased a new stake in MBX Biosciences during the 4th quarter valued at approximately $28,000. Finally, The Manufacturers Life Insurance Company grew its holdings in MBX Biosciences by 1.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 69,551 shares of the company’s stock valued at $2,155,000 after buying an additional 1,175 shares in the last quarter.
MBX Biosciences Stock Performance
Shares of NASDAQ MBX traded up $0.55 during midday trading on Friday, hitting $33.77. 306,779 shares of the company’s stock traded hands, compared to its average volume of 433,704. The firm has a fifty day moving average of $32.31 and a 200 day moving average of $29.46. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of -14.01 and a beta of 1.25. MBX Biosciences has a 1 year low of $7.20 and a 1 year high of $44.89.
MBX Biosciences (NASDAQ:MBX – Get Free Report) last posted its quarterly earnings data on Thursday, March 12th. The company reported ($0.49) EPS for the quarter, topping the consensus estimate of ($0.64) by $0.15.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on the stock. Stifel Nicolaus upped their price target on shares of MBX Biosciences from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Barclays initiated coverage on shares of MBX Biosciences in a report on Tuesday, January 27th. They issued an “overweight” rating and a $66.00 target price for the company. Guggenheim increased their price target on shares of MBX Biosciences from $77.00 to $88.00 and gave the company a “buy” rating in a report on Friday, January 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of MBX Biosciences in a research report on Thursday, January 22nd. Finally, Wall Street Zen lowered shares of MBX Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $53.25.
View Our Latest Research Report on MBX
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.