MBX Biosciences (NASDAQ:MBX) Trading 11.3% Higher – Here’s Why

MBX Biosciences, Inc. (NASDAQ:MBX) shares traded up 11.3% during mid-day trading on Monday . The stock traded as high as $40.00 and last traded at $39.51. 551,234 shares were traded during trading, a decline of 15% from the average session volume of 647,360 shares. The stock had previously closed at $35.51.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MBX shares. UBS Group reiterated a “buy” rating on shares of MBX Biosciences in a report on Tuesday, February 24th. Barclays increased their target price on shares of MBX Biosciences from $66.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. TD Cowen reiterated a “buy” rating on shares of MBX Biosciences in a report on Thursday, March 12th. Citizens Jmp increased their target price on shares of MBX Biosciences from $76.00 to $86.00 and gave the stock a “market outperform” rating in a report on Tuesday, May 12th. Finally, Lifesci Capital raised MBX Biosciences to a “strong-buy” rating in a research report on Tuesday, March 31st. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $60.22.

MBX Biosciences Stock Performance

The company has a market cap of $1.82 billion, a price-to-earnings ratio of -17.24 and a beta of 0.75. The business has a 50-day simple moving average of $32.49 and a 200-day simple moving average of $32.98.

MBX Biosciences (NASDAQ:MBX) last posted its quarterly 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 -2.84 EPS for the current year.

Institutional Investors Weigh In On MBX Biosciences

Institutional investors have recently added to or reduced their stakes in the business. Hudson Bay Capital Management LP purchased a new stake in MBX Biosciences during the third quarter worth approximately $1,488,000. Ghisallo Capital Management LLC purchased a new stake in MBX Biosciences during the third quarter worth approximately $669,000. Aaron Wealth Advisors LLC raised its stake in MBX Biosciences by 40.0% during the 4th quarter. Aaron Wealth Advisors LLC now owns 70,000 shares of the company’s stock worth $2,208,000 after acquiring an additional 20,000 shares in the last quarter. Goelzer Investment Management Inc. acquired a new stake in MBX Biosciences during the 4th quarter worth $6,992,000. Finally, Baker BROS. Advisors LP acquired a new stake in MBX Biosciences during the 3rd quarter worth $4,861,000.

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.