MBX Biosciences (NASDAQ:MBX) Reaches New 1-Year High – Here’s What Happened

MBX Biosciences, Inc. (NASDAQ:MBX)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $54.86 and last traded at $53.8510, with a volume of 101608 shares trading hands. The stock had previously closed at $52.31.

Analysts Set New Price Targets

Several brokerages have issued reports on MBX. Lifesci Capital raised shares of MBX Biosciences to a “strong-buy” rating in a research note on Tuesday, March 31st. Citizens Jmp raised their target price on MBX Biosciences from $76.00 to $86.00 and gave the stock a “market outperform” rating in a research report on Tuesday, May 12th. TD Cowen reiterated a “buy” rating on shares of MBX Biosciences in a report on Thursday, March 12th. Wall Street Zen lowered MBX Biosciences from a “hold” rating to a “sell” rating in a research report on Sunday, May 17th. Finally, Barclays increased their price objective on MBX Biosciences from $66.00 to $70.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, MBX Biosciences has an average rating of “Moderate Buy” and a consensus target price of $60.22.

MBX Biosciences Stock Performance

The business’s 50 day simple moving average is $35.02 and its 200-day simple moving average is $33.83. The company has a market cap of $2.56 billion, a price-to-earnings ratio of -24.37 and a beta of 0.75.

Institutional Investors Weigh In On MBX Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP grew its stake in shares of MBX Biosciences by 112.8% in the 3rd quarter. Wellington Management Group LLP now owns 4,823,336 shares of the company’s stock valued at $84,408,000 after buying an additional 2,556,708 shares in the last quarter. Aaron Wealth Advisors LLC lifted its stake in MBX Biosciences by 1,568.8% in the first quarter. Aaron Wealth Advisors LLC now owns 1,168,176 shares of the company’s stock valued at $34,870,000 after acquiring an additional 1,098,176 shares during the last quarter. Braidwell LP acquired a new stake in MBX Biosciences in the fourth quarter valued at approximately $32,127,000. Deep Track Capital LP grew its position in MBX Biosciences by 43.9% in the third quarter. Deep Track Capital LP now owns 3,150,000 shares of the company’s stock worth $55,125,000 after acquiring an additional 961,408 shares in the last quarter. Finally, Eventide Asset Management LLC acquired a new position in shares of MBX Biosciences during the 4th quarter worth $28,071,000.

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.