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

Shares of MBX Biosciences, Inc. (NASDAQ:MBX) have been given a consensus recommendation of “Moderate Buy” by the thirteen ratings firms that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, ten have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $77.00.

A number of equities research analysts recently commented on the company. Mizuho boosted their target price on MBX Biosciences from $57.00 to $91.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Truist Financial raised their price target on MBX Biosciences from $70.00 to $88.00 and gave the company a “buy” rating in a report on Monday, August 10th. JPMorgan Chase & Co. assumed coverage on MBX Biosciences in a research note on Friday, August 21st. They issued an “overweight” rating and a $88.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MBX Biosciences in a report on Friday, July 17th. Finally, Wall Street Zen downgraded MBX Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th.

MBX Biosciences Stock Performance

Shares of NASDAQ:MBX opened at $60.94 on Thursday. The firm has a market cap of $2.93 billion, a price-to-earnings ratio of -25.29 and a beta of 0.04. The firm has a fifty day moving average price of $63.68 and a 200 day moving average price of $45.89. MBX Biosciences has a fifty-two week low of $12.94 and a fifty-two week high of $72.64.

MBX Biosciences (NASDAQ:MBX) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.10). As a group, research analysts predict that MBX Biosciences will post -3.04 earnings per share for the current year.

Hedge Funds Weigh In On MBX Biosciences

Institutional investors have recently bought and sold shares of the business. Arizona State Retirement System purchased a new position in shares of MBX Biosciences in the 2nd quarter worth $326,000. AXQ Capital LP purchased a new stake in shares of MBX Biosciences during the 2nd quarter valued at about $428,000. Moore Capital Management LP purchased a new stake in shares of MBX Biosciences during the 2nd quarter valued at about $3,582,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of MBX Biosciences by 194.9% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,344 shares of the company’s stock valued at $1,178,000 after acquiring an additional 14,106 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of MBX Biosciences by 55.9% in the 2nd quarter. Wellington Management Group LLP now owns 4,977,523 shares of the company’s stock valued at $274,759,000 after acquiring an additional 1,785,699 shares during the last quarter.

About MBX Biosciences

MBX Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing precision peptide therapies for endocrine and metabolic disorders. The company uses its Precision Empowered Peptide platform to design peptide medicines intended to provide targeted biological activity, extended duration and improved dosing convenience.

MBX’s lead product candidate is MBX 2109, an investigational long-acting parathyroid hormone replacement therapy being developed for people with hypoparathyroidism.