MBX Biosciences, Inc. (NASDAQ:MBX) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of MBX Biosciences, Inc. (NASDAQ:MBX) have been assigned a consensus rating of “Moderate Buy” from the thirteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation and eleven have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $47.2222.

Several brokerages recently commented on MBX. Weiss Ratings reissued a “sell (d-)” rating on shares of MBX Biosciences in a research report on Wednesday, October 8th. Guggenheim cut their price objective on MBX Biosciences from $84.00 to $77.00 and set a “buy” rating for the company in a report on Monday, November 10th. UBS Group started coverage on shares of MBX Biosciences in a report on Wednesday. They set a “buy” rating and a $60.00 target price on the stock. Citigroup reaffirmed an “outperform” rating on shares of MBX Biosciences in a research report on Monday, September 22nd. Finally, Mizuho lifted their price objective on shares of MBX Biosciences from $38.00 to $56.00 and gave the company an “outperform” rating in a research report on Wednesday, September 24th.

Insider Transactions at MBX Biosciences

In other MBX Biosciences news, CEO P. Kent Hawryluk purchased 20,000 shares of the stock in a transaction on Monday, October 20th. The shares were purchased at an average price of $13.64 per share, with a total value of $272,800.00. Following the completion of the transaction, the chief executive officer directly owned 468,277 shares in the company, valued at $6,387,298.28. This represents a 4.46% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven L. Hoerter acquired 20,000 shares of the company’s stock in a transaction on Friday, October 17th. The stock was acquired at an average price of $13.25 per share, for a total transaction of $265,000.00. Following the purchase, the director directly owned 20,000 shares of the company’s stock, valued at approximately $265,000. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 52.19% of the company’s stock.

Institutional Trading of MBX Biosciences

Several institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its holdings in MBX Biosciences by 4,131.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company’s stock valued at $26,000 after buying an additional 1,446 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of MBX Biosciences in the third quarter valued at about $27,000. BNP Paribas Financial Markets increased its position in MBX Biosciences by 117.9% during the third quarter. BNP Paribas Financial Markets now owns 2,896 shares of the company’s stock worth $51,000 after acquiring an additional 1,567 shares during the period. China Universal Asset Management Co. Ltd. acquired a new stake in MBX Biosciences in the 3rd quarter worth about $88,000. Finally, Virtus Investment Advisers LLC boosted its holdings in MBX Biosciences by 9.6% in the 2nd quarter. Virtus Investment Advisers LLC now owns 8,772 shares of the company’s stock valued at $100,000 after purchasing an additional 766 shares during the period.

MBX Biosciences Trading Up 3.1%

MBX Biosciences stock opened at $31.66 on Friday. MBX Biosciences has a 1-year low of $4.81 and a 1-year high of $35.55. The company has a fifty day simple moving average of $29.17. The company has a market capitalization of $1.42 billion, a P/E ratio of -13.25 and a beta of 0.86.

MBX Biosciences (NASDAQ:MBX) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.63) EPS for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.10.

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.