MBX Biosciences (NASDAQ:MBX) Sets New 1-Year High – Here’s Why

MBX Biosciences, Inc. (NASDAQ:MBX)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $58.58 and last traded at $58.00, with a volume of 1419 shares changing hands. The stock had previously closed at $57.80.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MBX. Barclays lifted their price target on MBX Biosciences from $66.00 to $70.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. Lifesci Capital upgraded MBX Biosciences to a “strong-buy” rating in a report on Tuesday, March 31st. Wall Street Zen cut shares of MBX Biosciences from a “hold” rating to a “sell” rating in a research note on Sunday, May 17th. Truist Financial upped their target price on shares of MBX Biosciences from $50.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of MBX Biosciences in a research report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.22.

MBX Biosciences Price Performance

The firm has a 50 day simple moving average of $38.37 and a 200-day simple moving average of $35.24. The company has a market cap of $2.95 billion, a price-to-earnings ratio of -28.05 and a beta of 0.16.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its position in shares of MBX Biosciences by 112.8% during the 3rd quarter. Wellington Management Group LLP now owns 4,823,336 shares of the company’s stock worth $84,408,000 after purchasing an additional 2,556,708 shares during the period. Aaron Wealth Advisors LLC raised its position in MBX Biosciences by 1,568.8% in the first quarter. Aaron Wealth Advisors LLC now owns 1,168,176 shares of the company’s stock valued at $34,870,000 after purchasing an additional 1,098,176 shares during the period. Braidwell LP acquired a new position in MBX Biosciences during the fourth quarter worth $32,127,000. Deep Track Capital LP boosted its position in shares of MBX Biosciences by 43.9% during the third quarter. Deep Track Capital LP now owns 3,150,000 shares of the company’s stock worth $55,125,000 after buying an additional 961,408 shares during the period. Finally, Eventide Asset Management LLC purchased a new position in shares of MBX Biosciences during the fourth quarter worth $28,071,000.

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.