MBX Biosciences (NYSE:MBX) Given New $56.00 Price Target at Mizuho

MBX Biosciences (NYSE:MBX) had its price target upped by Mizuho from $38.00 to $56.00 in a report released on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other equities research analysts also recently commented on the company. Oppenheimer assumed coverage on MBX Biosciences in a report on Wednesday, July 16th. They issued an “outperform” rating and a $38.00 price objective for the company. Citigroup reiterated an “outperform” rating on shares of MBX Biosciences in a research note on Monday. Nine investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $39.88.

MBX Biosciences Stock Performance

NYSE:MBX opened at $20.10 on Wednesday. The stock’s 50-day simple moving average is $13.19 and its 200 day simple moving average is $11.17. The company has a market cap of $675.24 million and a P/E ratio of -4.43. MBX Biosciences has a 52-week low of $4.81 and a 52-week high of $27.50.

Hedge Funds Weigh In On MBX Biosciences

Several large investors have recently modified their holdings of the stock. MPM Bioimpact LLC lifted its stake in shares of MBX Biosciences by 14.3% during the 2nd quarter. MPM Bioimpact LLC now owns 1,294,416 shares of the company’s stock worth $14,769,000 after buying an additional 161,466 shares during the last quarter. Woodline Partners LP raised its holdings in MBX Biosciences by 44.1% in the 1st quarter. Woodline Partners LP now owns 877,461 shares of the company’s stock valued at $6,476,000 after acquiring an additional 268,740 shares during the period. Franklin Resources Inc. lifted its position in MBX Biosciences by 34.0% during the second quarter. Franklin Resources Inc. now owns 494,852 shares of the company’s stock worth $5,646,000 after acquiring an additional 125,537 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of MBX Biosciences by 27.0% during the second quarter. Geode Capital Management LLC now owns 348,447 shares of the company’s stock worth $3,976,000 after acquiring an additional 73,989 shares during the period. Finally, Parkman Healthcare Partners LLC grew its position in shares of MBX Biosciences by 93.1% in the first quarter. Parkman Healthcare Partners LLC now owns 328,323 shares of the company’s stock valued at $2,423,000 after purchasing an additional 158,323 shares during the last quarter.

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.