MBX Biosciences (NASDAQ:MBX) Shares Up 6.5% – Here’s Why

Shares of MBX Biosciences, Inc. (NASDAQ:MBX) shot up 6.5% during mid-day trading on Thursday . The company traded as high as $62.77 and last traded at $62.1060. 219,287 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 708,911 shares. The stock had previously closed at $58.30.

Analyst Ratings Changes

A number of research firms have recently weighed in on MBX. Lifesci Capital raised MBX Biosciences to a “strong-buy” rating in a research note on Tuesday, March 31st. Truist Financial lifted their target price on MBX Biosciences from $50.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, May 11th. UBS Group reissued a “buy” rating and issued a $90.00 price target on shares of MBX Biosciences in a report on Thursday. Stifel Nicolaus set a $56.00 price target on MBX Biosciences in a research note on Tuesday, May 12th. Finally, Barclays increased their price objective on shares of MBX Biosciences from $66.00 to $70.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, MBX Biosciences presently has an average rating of “Moderate Buy” and an average price target of $66.75.

MBX Biosciences Price Performance

The business has a 50-day moving average of $45.40 and a 200 day moving average of $37.89. The company has a market capitalization of $2.95 billion, a PE ratio of -28.05 and a beta of 0.16.

Institutional Investors Weigh In On MBX Biosciences

Large investors have recently bought and sold shares of the business. CWM LLC increased its stake in 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 acquiring an additional 400 shares during the last quarter. Royal Bank of Canada lifted its stake 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 valued at $49,000 after purchasing an additional 572 shares during the last quarter. California State Teachers Retirement System lifted its stake 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 purchasing an additional 689 shares during the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of MBX Biosciences in the 4th quarter worth approximately $28,000. Finally, Strs Ohio boosted its holdings in shares of MBX Biosciences by 128.6% in the 1st quarter. Strs Ohio now owns 1,600 shares of the company’s stock worth $48,000 after purchasing an additional 900 shares during the period.

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.