MBX Biosciences, Inc. (NYSE:MBX) Given Consensus Recommendation of “Buy” by Analysts

MBX Biosciences, Inc. (NYSE:MBX) has been given an average recommendation of “Buy” by the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a buy rating. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $37.6250.

Several equities research analysts have recently issued reports on MBX shares. Mizuho started coverage on MBX Biosciences in a research report on Tuesday, August 5th. They issued an “outperform” rating and a $38.00 price target on the stock. Oppenheimer started coverage on MBX Biosciences in a research report on Wednesday, July 16th. They issued an “outperform” rating and a $38.00 price target on the stock.

MBX Biosciences Trading Up 11.3%

Shares of NYSE:MBX opened at $12.53 on Wednesday. The stock has a market capitalization of $418.80 million and a PE ratio of -2.76. MBX Biosciences has a 1 year low of $4.81 and a 1 year high of $27.50. The firm has a fifty day moving average price of $12.13 and a 200 day moving average price of $10.56.

Institutional Investors Weigh In On MBX Biosciences

Several hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd bought a new stake in shares of MBX Biosciences in the second quarter valued at about $135,000. Rhumbline Advisers lifted its stake in shares of MBX Biosciences by 171.6% in the second quarter. Rhumbline Advisers now owns 23,662 shares of the company’s stock valued at $270,000 after buying an additional 14,950 shares during the period. Franklin Resources Inc. lifted its stake in shares of MBX Biosciences by 34.0% in the second quarter. Franklin Resources Inc. now owns 494,852 shares of the company’s stock valued at $5,646,000 after buying an additional 125,537 shares during the period. Rockefeller Capital Management L.P. bought a new stake in shares of MBX Biosciences in the second quarter valued at about $389,000. Finally, Intech Investment Management LLC lifted its stake in MBX Biosciences by 33.0% during 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 during the period.

About MBX Biosciences

MBX Biosciences, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of precision peptide therapies for the treatment of endocrine and metabolic disorders. Its lead product candidate is MBX 2109, a parathyroid hormone peptide prodrug, which is in Phase 2 clinical trial designed as a potential long-acting hormone replacement therapy for the treatment of chronic hypoparathyroidism.