Brokerages Set MBX Biosciences, Inc. (NASDAQ:MBX) Target Price at $60.22

MBX Biosciences, Inc. (NASDAQ:MBX) has been assigned a consensus rating of “Moderate Buy” from the thirteen analysts that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $60.2222.

MBX has been the subject 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 downgraded shares of MBX Biosciences from a “hold” rating to a “sell” rating in a research note on Sunday, May 17th. Barclays boosted their price objective on shares of MBX Biosciences from $66.00 to $70.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. Citigroup reiterated an “outperform” rating on shares of MBX Biosciences in a research note on Tuesday, May 12th. Finally, TD Cowen reiterated a “buy” rating on shares of MBX Biosciences in a research note on Thursday, March 12th.

Insider Transactions at MBX Biosciences

In other MBX Biosciences news, CEO P. Kent Hawryluk acquired 18,500 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was bought at an average cost of $28.41 per share, for a total transaction of $525,585.00. Following the completion of the purchase, the chief executive officer directly owned 486,777 shares in the company, valued at $13,829,334.57. This represents a 3.95% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 52.19% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MBX. Geode Capital Management LLC lifted its position in shares of MBX Biosciences by 27.0% during the second quarter. Geode Capital Management LLC now owns 348,447 shares of the company’s stock worth $3,976,000 after purchasing an additional 73,989 shares in the last quarter. Rhumbline Advisers lifted its position in shares of MBX Biosciences by 171.6% during the second quarter. Rhumbline Advisers now owns 23,662 shares of the company’s stock worth $270,000 after purchasing an additional 14,950 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of MBX Biosciences during the second quarter worth $135,000. The Manufacturers Life Insurance Company lifted its position in shares of MBX Biosciences by 73.8% during the second quarter. The Manufacturers Life Insurance Company now owns 87,097 shares of the company’s stock worth $994,000 after purchasing an additional 36,987 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of MBX Biosciences by 40.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,329 shares of the company’s stock worth $106,000 after purchasing an additional 2,682 shares in the last quarter.

MBX Biosciences Stock Performance

MBX Biosciences stock opened at $31.79 on Friday. MBX Biosciences has a 1 year low of $9.43 and a 1 year high of $45.85. The firm has a 50 day moving average price of $31.59 and a 200 day moving average price of $32.25. The company has a market cap of $1.51 billion, a price-to-earnings ratio of -14.38 and a beta of 0.78.

MBX Biosciences (NASDAQ:MBX) last released its earnings results on Thursday, March 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.15. Sell-side analysts predict that MBX Biosciences will post -2.84 EPS for the current year.

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.