MBX Biosciences (NASDAQ:MBX) Issues Earnings Results

MBX Biosciences (NASDAQ:MBX) posted its earnings results on Monday. The company reported ($1.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.49), FiscalAI reports.

MBX Biosciences Trading Up 6.0%

Shares of MBX stock traded up $3.23 during trading hours on Tuesday, reaching $57.29. 23,997 shares of the company’s stock were exchanged, compared to its average volume of 636,292. The stock’s fifty day moving average price is $56.19 and its two-hundred day moving average price is $46.03. MBX Biosciences has a 1 year low of $23.07 and a 1 year high of $72.64. The stock has a market cap of $2.76 billion, a PE ratio of -23.29 and a beta of 0.17.

Wall Street Analysts Forecast Growth

MBX has been the subject of several research analyst reports. UBS Group reissued a “buy” rating on shares of MBX Biosciences in a research report on Monday, September 28th. JPMorgan Chase & Co. assumed coverage on MBX Biosciences in a report on Friday, August 21st. They set an “overweight” rating and a $88.00 price objective on the stock. Stifel Nicolaus upped their price objective on shares of MBX Biosciences from $70.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, October 12th. Wall Street Zen cut MBX Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Finally, Truist Financial boosted their price target on shares of MBX Biosciences from $70.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Sell rating to the company. According to MarketBeat, MBX Biosciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.00.

Institutional Trading of MBX Biosciences

Hedge funds have recently made changes to their positions in the business. Bank of America Corp DE purchased a new stake in MBX Biosciences in the second quarter valued at approximately $16,501,000. The Manufacturers Life Insurance Company grew its holdings in MBX Biosciences by 30.3% during the 1st 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 in the last quarter. Elmind Capital LP bought a new stake in shares of MBX Biosciences in the 2nd quarter valued at approximately $5,023,200. California State Teachers Retirement System grew its stake in MBX Biosciences by 1,197.9% during the 1st 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 during the last quarter. Finally, Dimensional Fund Advisors LP bought a new stake in MBX Biosciences during the 1st quarter valued at $1,396,000.

About MBX Biosciences

MBX Biosciences, Inc is a clinical-stage biopharmaceutical company developing peptide-based treatments for endocrine and metabolic disorders. The company’s research focuses on conditions in which naturally occurring hormones are deficient or do not function adequately.

MBX uses its Precision Endocrine Peptide (PEP) platform to design peptide medicines intended to provide more durable hormone activity. Its lead candidate, MBX 2109, is being developed as a long-acting parathyroid hormone replacement therapy for people with chronic hypoparathyroidism.

Based in Carmel, Indiana, MBX Biosciences is advancing a pipeline of investigational therapies.