Shares of MBX Biosciences, Inc. (NYSE:MBX – Get Free Report) have been assigned a consensus rating of “Buy” from the six ratings firms that are presently covering the company, MarketBeat reports. Six research analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $37.50.
A number of brokerages have commented on MBX. Citizens Jmp began coverage on shares of MBX Biosciences in a research note on Thursday, April 10th. They set an “outperform” rating and a $38.00 price target for the company. JMP Securities started coverage on shares of MBX Biosciences in a research note on Thursday, April 10th. They issued a “market outperform” rating and a $38.00 target price for the company. Finally, Guggenheim reiterated a “buy” rating and issued a $44.00 target price on shares of MBX Biosciences in a research note on Thursday, April 10th.
Insiders Place Their Bets
Hedge Funds Weigh In On MBX Biosciences
A number of large investors have recently added to or reduced their stakes in MBX. MPM Bioimpact LLC bought a new position in MBX Biosciences during the 1st quarter worth about $8,361,000. Driehaus Capital Management LLC boosted its position in MBX Biosciences by 61.2% during the fourth quarter. Driehaus Capital Management LLC now owns 1,581,760 shares of the company’s stock valued at $29,152,000 after purchasing an additional 600,438 shares during the last quarter. Woodline Partners LP boosted its position in MBX Biosciences by 44.1% during the first quarter. Woodline Partners LP now owns 877,461 shares of the company’s stock valued at $6,476,000 after purchasing an additional 268,740 shares during the last quarter. Geode Capital Management LLC boosted its position in MBX Biosciences by 1,093.2% during the fourth quarter. Geode Capital Management LLC now owns 265,703 shares of the company’s stock valued at $4,898,000 after purchasing an additional 243,434 shares during the last quarter. Finally, Affinity Asset Advisors LLC acquired a new stake in MBX Biosciences in the 1st quarter valued at about $1,292,000.
MBX Biosciences Trading Down 5.2%
NYSE MBX opened at $11.29 on Tuesday. The firm has a 50-day simple moving average of $11.03 and a 200 day simple moving average of $11.48. MBX Biosciences has a twelve month low of $4.81 and a twelve month high of $27.50.
MBX Biosciences Company Profile
MBX Biosciences, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of precision peptide therapies for the treatment of endocrine and metabolic disorders. Its lead product candidate is MBX 2109, a parathyroid hormone peptide prodrug, which is in Phase 2 clinical trial designed as a potential long-acting hormone replacement therapy for the treatment of chronic hypoparathyroidism.
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