Brokerages Set MBX Biosciences, Inc. (NASDAQ:MBX) Price Target at $66.75

Shares of MBX Biosciences, Inc. (NASDAQ:MBX) have been assigned an average recommendation of “Moderate Buy” from the twelve analysts that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $71.1250.

MBX has been the subject of a number of research analyst reports. Truist Financial raised their price target on MBX Biosciences from $50.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Stifel Nicolaus set a $56.00 price objective on shares of MBX Biosciences in a research note on Tuesday, May 12th. Weiss Ratings restated a “sell (d-)” rating on shares of MBX Biosciences in a report on Friday, July 17th. Wall Street Zen upgraded shares of MBX Biosciences from a “sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Finally, UBS Group reaffirmed a “buy” rating and issued a $90.00 price target on shares of MBX Biosciences in a report on Thursday, July 23rd.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Stempoint Capital LP lifted its stake in MBX Biosciences by 535.8% in the 1st quarter. Stempoint Capital LP now owns 499,469 shares of the company’s stock valued at $14,909,000 after buying an additional 420,916 shares in the last quarter. Janus Henderson Group PLC purchased a new position in MBX Biosciences during the first quarter worth $308,000. California State Teachers Retirement System increased its position in MBX Biosciences by 1,197.9% during the first quarter. California State Teachers Retirement System now owns 22,765 shares of the company’s stock worth $680,000 after buying an additional 21,011 shares in the last quarter. Rock Springs Capital Management LP raised its holdings in shares of MBX Biosciences by 1.9% in the first quarter. Rock Springs Capital Management LP now owns 287,967 shares of the company’s stock worth $8,596,000 after acquiring an additional 5,343 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of MBX Biosciences by 30.3% in the first quarter. The Manufacturers Life Insurance Company now owns 90,634 shares of the company’s stock worth $2,705,000 after acquiring an additional 21,083 shares during the last quarter.

MBX Biosciences Stock Performance

MBX opened at $65.93 on Wednesday. The business’s fifty day moving average is $48.63 and its two-hundred day moving average is $39.07. The company has a market cap of $3.14 billion, a price-to-earnings ratio of -29.83 and a beta of 0.09. MBX Biosciences has a one year low of $9.63 and a one year high of $69.40.

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.