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

Shares of MBX Biosciences, Inc. (NASDAQ:MBX) have been assigned an average rating of “Moderate Buy” from the ten analysts that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and nine have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $39.8750.

A number of analysts have recently weighed in on the company. Oppenheimer assumed coverage on MBX Biosciences in a research note on Wednesday, July 16th. They set an “outperform” rating and a $38.00 price objective for the company. Mizuho increased their price objective on MBX Biosciences from $38.00 to $56.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MBX Biosciences in a research note on Saturday, September 27th. Citigroup reaffirmed an “outperform” rating on shares of MBX Biosciences in a research note on Monday, September 22nd. Finally, Wall Street Zen raised MBX Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th.

MBX Biosciences Stock Down 2.6%

NASDAQ:MBX opened at $16.26 on Thursday. The company has a market cap of $546.17 million and a PE ratio of -3.58. MBX Biosciences has a fifty-two week low of $4.81 and a fifty-two week high of $27.50.

Insider Buying and Selling

In other MBX Biosciences news, Director Patrick J. Heron purchased 666,666 shares of the company’s stock in a transaction that occurred on Friday, September 26th. The stock was bought at an average price of $18.00 per share, with a total value of $11,999,988.00. Following the completion of the purchase, the director directly owned 5,219,440 shares of the company’s stock, valued at $93,949,920. The trade was a 14.64% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

Institutional Trading of MBX Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Virtus Investment Advisers LLC lifted its stake in MBX Biosciences by 9.6% in the second quarter. Virtus Investment Advisers LLC now owns 8,772 shares of the company’s stock worth $100,000 after acquiring an additional 766 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in MBX Biosciences by 1.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 94,546 shares of the company’s stock worth $698,000 after purchasing an additional 1,235 shares in the last quarter. BNP Paribas Financial Markets bought a new position in MBX Biosciences in the fourth quarter worth $27,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in MBX Biosciences by 40.3% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,329 shares of the company’s stock worth $106,000 after purchasing an additional 2,682 shares in the last quarter. Finally, Intech Investment Management LLC raised its holdings in MBX Biosciences by 33.0% in the second quarter. Intech Investment Management LLC now owns 14,271 shares of the company’s stock worth $163,000 after purchasing an additional 3,543 shares in the last quarter.

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.