MBX Biosciences (NASDAQ:MBX) Stock Rating Upgraded by Lifesci Capital

MBX Biosciences (NASDAQ:MBX) was upgraded by analysts at Lifesci Capital to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other analysts also recently weighed in on the company. Wall Street Zen upgraded MBX Biosciences from a “sell” rating to a “hold” rating in a research note on Sunday, December 21st. TD Cowen reissued a “buy” rating on shares of MBX Biosciences in a report on Thursday, March 12th. UBS Group restated a “buy” rating on shares of MBX Biosciences in a research note on Tuesday, February 24th. Weiss Ratings restated a “sell (d-)” rating on shares of MBX Biosciences in a report on Thursday, January 22nd. Finally, Stifel Nicolaus upped 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. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.56.

MBX Biosciences Trading Up 8.2%

Shares of MBX stock opened at $32.29 on Tuesday. The firm has a fifty day simple moving average of $33.60 and a 200-day simple moving average of $28.08. The company has a market capitalization of $1.53 billion, a PE ratio of -13.40 and a beta of 1.25. MBX Biosciences has a twelve month low of $4.81 and a twelve month high of $44.89.

MBX Biosciences (NASDAQ:MBX) last released its quarterly earnings results on Thursday, March 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.64) by $0.15.

Insider Activity

In related news, CEO P. Kent Hawryluk bought 18,500 shares of the business’s stock in a transaction dated 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 purchase, the chief executive officer owned 486,777 shares in the company, valued at $13,829,334.57. This trade represents a 3.95% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 52.19% of the company’s stock.

Hedge Funds Weigh In On MBX Biosciences

Hedge funds have recently bought and sold shares of the company. GF Fund Management CO. LTD. bought a new stake in MBX Biosciences in the fourth quarter valued at about $28,000. Russell Investments Group Ltd. lifted its holdings in MBX Biosciences by 4,131.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company’s stock worth $26,000 after buying an additional 1,446 shares during the last quarter. Royal Bank of Canada grew 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 worth $49,000 after acquiring an additional 572 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of MBX Biosciences in the 3rd quarter worth approximately $27,000. Finally, California State Teachers Retirement System increased its holdings 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 last quarter.

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.