MBX Biosciences (NASDAQ:MBX) Hits New 12-Month High on Analyst Upgrade

MBX Biosciences, Inc. (NASDAQ:MBX) shares reached a new 52-week high during trading on Monday after Truist Financial raised their price target on the stock from $50.00 to $70.00. Truist Financial currently has a buy rating on the stock. MBX Biosciences traded as high as $45.85 and last traded at $43.7770, with a volume of 496091 shares traded. The stock had previously closed at $40.97.

Other research analysts have also issued research reports about the company. Guggenheim lifted their price target on MBX Biosciences from $77.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. TD Cowen reiterated a “buy” rating on shares of MBX Biosciences in a research note on Thursday, March 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MBX Biosciences in a research note on Tuesday, April 21st. UBS Group reiterated a “buy” rating on shares of MBX Biosciences in a research note on Tuesday, February 24th. Finally, Barclays assumed coverage on MBX Biosciences in a research note on Tuesday, January 27th. They issued an “overweight” rating and a $66.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, MBX Biosciences currently has a consensus rating of “Moderate Buy” and an average target price of $55.75.

Insider Buying and Selling at MBX Biosciences

In related news, CEO P. Kent Hawryluk purchased 18,500 shares of the business’s stock in a transaction dated Friday, March 13th. The stock was bought at an average cost of $28.41 per share, with a total value of $525,585.00. Following the completion of the acquisition, the chief executive officer directly owned 486,777 shares in the company, valued at $13,829,334.57. The trade was a 3.95% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Hedge Funds Weigh In On MBX Biosciences

Institutional investors have recently added to or reduced their stakes in the business. Hudson Bay Capital Management LP acquired a new position in MBX Biosciences in the third quarter valued at $1,488,000. Ghisallo Capital Management LLC acquired a new stake in shares of MBX Biosciences in the third quarter valued at about $669,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of MBX Biosciences in the third quarter valued at about $498,000. Goelzer Investment Management Inc. acquired a new stake in shares of MBX Biosciences in the fourth quarter valued at about $6,992,000. Finally, Baker BROS. Advisors LP acquired a new stake in shares of MBX Biosciences in the third quarter valued at about $4,861,000.

MBX Biosciences Stock Down 2.2%

The firm has a market cap of $1.91 billion, a price-to-earnings ratio of -18.14 and a beta of 0.78. The business has a 50 day moving average price of $30.98 and a 200-day moving average price of $31.04.

MBX Biosciences (NASDAQ:MBX) last posted 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. Research analysts anticipate that MBX Biosciences, Inc. will post -2.9 earnings per share for the current fiscal 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.