Brokerages Set MBX Biosciences, Inc. (NASDAQ:MBX) Price Target at $47.22

MBX Biosciences, Inc. (NASDAQ:MBX) has earned an average rating of “Moderate Buy” from the thirteen ratings firms that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation and eleven have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $48.4444.

A number of equities analysts recently commented on MBX shares. Mizuho lifted their price objective on MBX Biosciences from $38.00 to $56.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. Guggenheim boosted their price target on shares of MBX Biosciences from $77.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday. Citigroup reiterated an “outperform” rating on shares of MBX Biosciences in a research report on Monday, September 22nd. Stifel Nicolaus lifted their target price on shares of MBX Biosciences from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MBX Biosciences in a research report on Wednesday, October 8th.

MBX Biosciences Stock Performance

Shares of NASDAQ MBX opened at $40.53 on Friday. The company has a 50 day simple moving average of $30.84. The firm has a market cap of $1.82 billion, a PE ratio of -16.96 and a beta of 0.86. MBX Biosciences has a 52-week low of $4.81 and a 52-week high of $44.89.

MBX Biosciences (NASDAQ:MBX) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.63) earnings per share for the quarter, topping the consensus estimate of ($0.73) by $0.10.

Insider Buying and Selling

In other MBX Biosciences news, CEO P. Kent Hawryluk bought 20,000 shares of the stock in a transaction on Monday, October 20th. The stock was acquired at an average cost of $13.64 per share, for a total transaction of $272,800.00. Following the completion of the acquisition, the chief executive officer owned 468,277 shares in the company, valued at $6,387,298.28. This trade represents a 4.46% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 52.19% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MBX Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the company. Virtus Investment Advisers LLC lifted its holdings in shares of MBX Biosciences by 9.6% in the 2nd quarter. Virtus Investment Advisers LLC now owns 8,772 shares of the company’s stock worth $100,000 after purchasing an additional 766 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in MBX Biosciences by 4,131.4% during the third quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company’s stock worth $26,000 after buying an additional 1,446 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of MBX Biosciences by 117.9% in the third quarter. BNP Paribas Financial Markets now owns 2,896 shares of the company’s stock valued at $51,000 after buying an additional 1,567 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in shares of MBX Biosciences during the third quarter worth about $27,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of MBX Biosciences by 40.3% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,329 shares of the company’s stock worth $106,000 after acquiring an additional 2,682 shares during 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.