MBX Biosciences, Inc. (NASDAQ:MBX) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of MBX Biosciences, Inc. (NASDAQ:MBX) have earned an average recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, ten have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $60.2222.

MBX has been the topic of several research reports. Stifel Nicolaus set a $56.00 price objective on shares of MBX Biosciences in a research note on Tuesday, May 12th. Wall Street Zen lowered shares of MBX Biosciences from a “hold” rating to a “sell” rating in a research note on Sunday, May 17th. UBS Group restated a “buy” rating on shares of MBX Biosciences in a research note on Tuesday, February 24th. Truist Financial raised their price target on shares of MBX Biosciences from $50.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Finally, TD Cowen restated a “buy” rating on shares of MBX Biosciences in a research note on Thursday, March 12th.

Insider Activity at MBX Biosciences

In other news, CEO P. Kent Hawryluk purchased 18,500 shares of the company’s stock in a transaction on Friday, March 13th. The shares were bought at an average price of $28.41 per share, for a total transaction of $525,585.00. Following the completion of the purchase, the chief executive officer owned 486,777 shares of the company’s stock, valued at $13,829,334.57. This trade represents a 3.95% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Investors Weigh In On MBX Biosciences

Several large investors have recently made changes to their positions in MBX. Wellington Management Group LLP increased its stake in shares of MBX Biosciences by 112.8% during the third quarter. Wellington Management Group LLP now owns 4,823,336 shares of the company’s stock valued at $84,408,000 after acquiring an additional 2,556,708 shares during the period. Deep Track Capital LP increased its stake in shares of MBX Biosciences by 43.9% during the third quarter. Deep Track Capital LP now owns 3,150,000 shares of the company’s stock valued at $55,125,000 after acquiring an additional 961,408 shares during the period. Vanguard Group Inc. increased its stake in shares of MBX Biosciences by 8.4% during the fourth quarter. Vanguard Group Inc. now owns 1,817,811 shares of the company’s stock valued at $57,334,000 after acquiring an additional 140,449 shares during the period. Franklin Resources Inc. increased its stake in shares of MBX Biosciences by 164.2% during the third quarter. Franklin Resources Inc. now owns 1,307,288 shares of the company’s stock valued at $22,878,000 after acquiring an additional 812,436 shares during the period. Finally, MPM Bioimpact LLC increased its stake in shares of MBX Biosciences by 14.3% during the second quarter. MPM Bioimpact LLC now owns 1,294,416 shares of the company’s stock valued at $14,769,000 after acquiring an additional 161,466 shares during the period.

MBX Biosciences Stock Down 4.2%

MBX opened at $29.00 on Tuesday. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of -13.12 and a beta of 0.75. MBX Biosciences has a fifty-two week low of $9.43 and a fifty-two week high of $45.85. The company’s 50-day moving average price is $32.17 and its 200 day moving average price is $32.83.

MBX Biosciences (NASDAQ:MBX) last released 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. Research analysts anticipate that MBX Biosciences will post -2.84 earnings per share for the current year.

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.