MBX Biosciences (NASDAQ:MBX) Shares Up 8.5% – Still a Buy?

MBX Biosciences, Inc. (NASDAQ:MBX)’s stock price shot up 8.5% on Thursday . The company traded as high as $37.79 and last traded at $37.9610. 190,927 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 722,074 shares. The stock had previously closed at $35.00.

Analyst Ratings Changes

Several research analysts have recently weighed in on MBX shares. TD Cowen started coverage on shares of MBX Biosciences in a report on Tuesday, November 4th. They set a “buy” rating for the company. Wall Street Zen upgraded shares of MBX Biosciences from a “sell” rating to a “hold” rating in a research note on Sunday, December 21st. Stifel Nicolaus raised their price target on MBX Biosciences from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Guggenheim lifted their price objective on MBX Biosciences from $77.00 to $88.00 and gave the stock a “buy” rating in a report on Friday, January 16th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of MBX Biosciences in a report on Thursday, January 22nd. Eleven analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, MBX Biosciences presently has an average rating of “Moderate Buy” and a consensus target price of $50.20.

MBX Biosciences Stock Performance

The firm has a 50 day simple moving average of $34.16. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -15.90 and a beta of 0.87.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MBX. GF Fund Management CO. LTD. purchased a new stake in MBX Biosciences in the 4th quarter worth approximately $28,000. Russell Investments Group Ltd. boosted its position in shares of MBX Biosciences by 4,131.4% in the third quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company’s stock worth $26,000 after purchasing an additional 1,446 shares during the period. FNY Investment Advisers LLC purchased a new stake in shares of MBX Biosciences in the third quarter worth $27,000. CWM LLC raised its position in shares of MBX Biosciences by 28.9% during the 4th quarter. CWM LLC now owns 1,784 shares of the company’s stock valued at $56,000 after purchasing an additional 400 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of MBX Biosciences during the 4th quarter valued at $69,000.

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.