MBX Biosciences (NASDAQ:MBX) Stock Jumps 4.1% – What’s Next?

MBX Biosciences, Inc. (NASDAQ:MBX) traded up 4.1% on Monday. The stock traded as high as $55.93 and last traded at $55.84. 88,613 shares traded hands during trading, a decline of 86% from the average daily volume of 652,820 shares. The stock had previously closed at $53.63.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. UBS Group restated a “buy” rating on shares of MBX Biosciences in a report on Monday. Truist Financial upped their price target on MBX Biosciences from $70.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Wall Street Zen downgraded MBX Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Mizuho raised their price objective on MBX Biosciences from $57.00 to $91.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. assumed coverage on MBX Biosciences in a report on Friday, August 21st. They issued an “overweight” rating and a $88.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.00.

MBX Biosciences Trading Up 7.5%

The firm has a market capitalization of $2.78 billion, a PE ratio of -23.90 and a beta of 0.04. The firm’s fifty day moving average price is $63.48 and its 200 day moving average price is $46.65.

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

Institutional Investors Weigh In On MBX Biosciences

Several large investors have recently made changes to their positions in MBX. Strs Ohio grew its position in MBX Biosciences by 128.6% in the first quarter. Strs Ohio now owns 1,600 shares of the company’s stock worth $48,000 after acquiring an additional 900 shares in the last quarter. State of Wyoming bought a new position in shares of MBX Biosciences during the 2nd quarter valued at $58,000. AXQ Capital LP acquired a new stake in shares of MBX Biosciences in the 4th quarter valued at $204,000. Quantbot Technologies LP acquired a new position in MBX Biosciences during the second quarter worth $213,000. Finally, ProShare Advisors LLC bought a new position in MBX Biosciences during the fourth quarter valued at about $227,000.

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.