MBX Biosciences, Inc. (NASDAQ:MBX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

MBX Biosciences, Inc. (NASDAQ:MBX) has earned an average recommendation of “Moderate Buy” from the twelve analysts that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating and ten have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $51.5556.

A number of brokerages recently weighed in on MBX. TD Cowen reissued a “buy” rating on shares of MBX Biosciences in a report on Thursday, March 12th. Stifel Nicolaus raised their price objective on shares of MBX Biosciences from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, December 19th. UBS Group reaffirmed a “buy” rating on shares of MBX Biosciences in a research report on Tuesday, February 24th. Wall Street Zen upgraded shares of MBX Biosciences from a “sell” rating to a “hold” rating in a research note on Sunday, December 21st. Finally, Barclays began coverage on shares of MBX Biosciences in a research report on Tuesday, January 27th. They set an “overweight” rating and a $66.00 target price for the company.

MBX Biosciences Stock Up 4.1%

MBX stock opened at $28.96 on Thursday. The firm has a market cap of $1.38 billion, a PE ratio of -12.02 and a beta of 1.06. The business has a 50 day moving average of $34.80 and a 200-day moving average of $27.43. MBX Biosciences has a 12-month low of $4.81 and a 12-month high of $44.89.

MBX Biosciences (NASDAQ:MBX) last posted its quarterly earnings data on Thursday, March 12th. The company reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($0.64) by $0.15.

Insiders Place Their Bets

In other news, CEO P. Kent Hawryluk bought 18,500 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was acquired at an average cost of $28.41 per share, with a total value of $525,585.00. Following the completion of the transaction, the chief executive officer directly owned 486,777 shares of the company’s stock, valued at $13,829,334.57. This represents a 3.95% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 52.19% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. CWM LLC increased its holdings in MBX Biosciences by 28.9% in the 4th 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 holdings in MBX Biosciences by 59.6% during the fourth 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 boosted its position in MBX Biosciences by 64.7% during the fourth quarter. California State Teachers Retirement System now owns 1,754 shares of the company’s stock worth $55,000 after purchasing an additional 689 shares during the period. Virtus Investment Advisers LLC increased its stake in shares of MBX Biosciences by 9.6% in the second quarter. Virtus Investment Advisers LLC now owns 8,772 shares of the company’s stock worth $100,000 after purchasing an additional 766 shares in the last quarter. Finally, GF Fund Management CO. LTD. purchased a new position in shares of MBX Biosciences in the fourth quarter worth about $28,000.

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.