MBX Biosciences, Inc. (NASDAQ:MBX) Short Interest Update

MBX Biosciences, Inc. (NASDAQ:MBX) was the target of a significant drop in short interest in January. As of January 15th, there was short interest totaling 2,307,824 shares, a drop of 40.0% from the December 31st total of 3,843,943 shares. Based on an average daily trading volume, of 800,131 shares, the days-to-cover ratio is currently 2.9 days. Currently, 5.1% of the shares of the stock are sold short. Currently, 5.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 800,131 shares, the days-to-cover ratio is currently 2.9 days.

Analysts Set New Price Targets

Several brokerages have issued reports on MBX. Barclays began coverage on shares of MBX Biosciences in a report on Tuesday. They issued an “overweight” rating and a $66.00 price target on the stock. Guggenheim upped their target price on MBX Biosciences from $77.00 to $88.00 and gave the company a “buy” rating in a research note on Friday, January 16th. The Goldman Sachs Group assumed coverage on MBX Biosciences in a research report on Thursday, December 4th. They set a “sell” rating and a $18.00 price target for the company. UBS Group started coverage on MBX Biosciences in a research report on Wednesday, January 7th. They issued a “buy” rating and a $60.00 price objective on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of MBX Biosciences in a research report on Thursday, January 22nd. Eleven equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $50.20.

MBX Biosciences Stock Performance

NASDAQ:MBX opened at $36.62 on Friday. The company has a market capitalization of $1.64 billion, a PE ratio of -15.32 and a beta of 0.86. MBX Biosciences has a 1 year low of $4.81 and a 1 year high of $44.89. The stock has a fifty day simple moving average of $33.26.

MBX Biosciences (NASDAQ:MBX) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.63) earnings per share for the quarter, topping the consensus estimate of ($0.73) by $0.10.

Institutional Investors Weigh In On MBX Biosciences

Institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its position in shares of MBX Biosciences by 4,131.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company’s stock valued at $26,000 after purchasing an additional 1,446 shares during the period. FNY Investment Advisers LLC bought a new position in MBX Biosciences during the third quarter valued at about $27,000. GF Fund Management CO. LTD. acquired a new position in MBX Biosciences during the fourth quarter worth about $28,000. BNP Paribas Financial Markets raised its position in MBX Biosciences by 117.9% in the third quarter. BNP Paribas Financial Markets now owns 2,896 shares of the company’s stock worth $51,000 after acquiring an additional 1,567 shares in the last quarter. Finally, CWM LLC lifted its holdings in MBX Biosciences by 28.9% in the 4th quarter. CWM LLC now owns 1,784 shares of the company’s stock valued at $56,000 after acquiring an additional 400 shares during the last quarter.

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.