MBX Biosciences (NASDAQ:MBX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of MBX Biosciences (NASDAQ:MBX) from a sell rating to a hold rating in a report published on Tuesday.

Several other equities research analysts also recently commented on MBX. Stifel Nicolaus set a $56.00 target price on shares of MBX Biosciences in a research note on Tuesday, May 12th. Lifesci Capital raised shares of MBX Biosciences to a “strong-buy” rating in a report on Tuesday, March 31st. Truist Financial boosted their price target on shares of MBX Biosciences from $50.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, May 11th. UBS Group restated a “buy” rating and issued a $90.00 price target on shares of MBX Biosciences in a research report on Thursday, July 23rd. Finally, Citizens Jmp raised their price objective on shares of MBX Biosciences from $76.00 to $86.00 and gave the stock a “market outperform” rating in a report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $71.12.

MBX Biosciences Price Performance

Shares of NASDAQ:MBX opened at $66.46 on Tuesday. The business’s fifty day moving average price is $47.95 and its two-hundred day moving average price is $38.86. MBX Biosciences has a fifty-two week low of $9.63 and a fifty-two week high of $66.66. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of -30.07 and a beta of 0.16.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. grew 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 acquiring an additional 1,446 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in shares of MBX Biosciences in the fourth quarter worth about $28,000. Strs Ohio lifted its position in shares of MBX Biosciences by 128.6% during the first quarter. Strs Ohio now owns 1,600 shares of the company’s stock worth $48,000 after purchasing an additional 900 shares in the last quarter. Royal Bank of Canada lifted its position in shares of MBX Biosciences by 59.6% during the fourth 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. Finally, BNP Paribas Financial Markets grew its stake in shares of MBX Biosciences by 117.9% during the third quarter. BNP Paribas Financial Markets now owns 2,896 shares of the company’s stock valued at $51,000 after purchasing an additional 1,567 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.