MBX Biosciences, Inc. (NASDAQ:MBX – Get Free Report)’s stock price reached a new 52-week high on Monday . The stock traded as high as $58.58 and last traded at $58.00, with a volume of 1419 shares changing hands. The stock had previously closed at $57.80.
Analysts Set New Price Targets
Several analysts have issued reports on MBX shares. Truist Financial upped their price target on shares of MBX Biosciences from $50.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Stifel Nicolaus set a $56.00 price objective on shares of MBX Biosciences in a research note on Tuesday, May 12th. Barclays upped their target price on shares of MBX Biosciences from $66.00 to $70.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. Citigroup reiterated an “outperform” rating on shares of MBX Biosciences in a research note on Tuesday, May 12th. Finally, Citizens Jmp boosted their price target on MBX Biosciences from $76.00 to $86.00 and gave the stock a “market outperform” rating in a research report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $60.22.
View Our Latest Stock Analysis on MBX Biosciences
MBX Biosciences Stock Performance
Institutional Trading of MBX Biosciences
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Stempoint Capital LP raised its holdings in MBX Biosciences by 535.8% in the 1st quarter. Stempoint Capital LP now owns 499,469 shares of the company’s stock valued at $14,909,000 after acquiring an additional 420,916 shares during the period. Janus Henderson Group PLC acquired a new position in shares of MBX Biosciences in the first quarter valued at approximately $308,000. California State Teachers Retirement System grew its position in shares of MBX Biosciences by 1,197.9% in the first quarter. California State Teachers Retirement System now owns 22,765 shares of the company’s stock valued at $680,000 after purchasing an additional 21,011 shares during the last quarter. Rock Springs Capital Management LP increased its stake in shares of MBX Biosciences by 1.9% during the first quarter. Rock Springs Capital Management LP now owns 287,967 shares of the company’s stock worth $8,596,000 after purchasing an additional 5,343 shares during the period. Finally, The Manufacturers Life Insurance Company lifted 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 purchasing an additional 21,083 shares during the last quarter.
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.
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