Shares of MBX Biosciences, Inc. (NASDAQ:MBX – Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $60.04, but opened at $52.82. MBX Biosciences shares last traded at $55.83, with a volume of 305,802 shares traded.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on MBX shares. Stifel Nicolaus set a $56.00 target price on MBX Biosciences in a report on Tuesday, May 12th. Citizens Jmp lifted their price target on shares of MBX Biosciences from $76.00 to $86.00 and gave the company a “market outperform” rating in a report on Tuesday, May 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of MBX Biosciences in a research report on Tuesday, April 21st. Lifesci Capital upgraded shares of MBX Biosciences to a “strong-buy” rating in a report on Tuesday, March 31st. Finally, Barclays raised their target price on shares of MBX Biosciences from $66.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. One 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 company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $60.22.
Read Our Latest Analysis on MBX Biosciences
MBX Biosciences Stock Performance
Institutional Investors Weigh In On MBX Biosciences
Hedge funds have recently made changes to their positions in the company. Hudson Bay Capital Management LP bought a new position in MBX Biosciences in the third quarter worth $1,488,000. Aaron Wealth Advisors LLC boosted its holdings in shares of MBX Biosciences by 40.0% during the 4th quarter. Aaron Wealth Advisors LLC now owns 70,000 shares of the company’s stock valued at $2,208,000 after buying an additional 20,000 shares in the last quarter. Goelzer Investment Management Inc. bought a new stake in shares of MBX Biosciences during the 4th quarter valued at $6,992,000. Candriam S.C.A. purchased a new stake in shares of MBX Biosciences in the 1st quarter worth about $8,787,000. Finally, Eventide Asset Management LLC purchased a new stake in shares of MBX Biosciences in the 4th quarter worth about $28,071,000.
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.
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