MBX Biosciences (NASDAQ:MBX) Earns Buy Rating from Analysts at UBS Group

UBS Group began coverage on shares of MBX Biosciences (NASDAQ:MBX) in a report published on Wednesday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $60.00 target price on the stock.

Several other equities research analysts have also recently weighed in on the stock. Guggenheim lowered their price objective on shares of MBX Biosciences from $84.00 to $77.00 and set a “buy” rating for the company in a research report on Monday, November 10th. Wall Street Zen raised shares of MBX Biosciences from a “sell” rating to a “hold” rating in a research note on Sunday, December 21st. Cowen assumed coverage on shares of MBX Biosciences in a research report on Tuesday, November 4th. They issued a “buy” rating for the company. Truist Financial initiated coverage on MBX Biosciences in a report on Wednesday, October 15th. They set a “buy” rating and a $50.00 price objective on the stock. Finally, Stifel Nicolaus lifted their target price on MBX Biosciences from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, December 19th. Eleven research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, MBX Biosciences presently has a consensus rating of “Moderate Buy” and an average target price of $47.22.

MBX Biosciences Price Performance

Shares of MBX Biosciences stock opened at $31.66 on Wednesday. MBX Biosciences has a 52-week low of $4.81 and a 52-week high of $35.55. The company has a market cap of $1.42 billion, a price-to-earnings ratio of -13.25 and a beta of 0.86. The firm has a fifty day simple moving average of $29.17.

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

Insiders Place Their Bets

In other news, CEO P. Kent Hawryluk bought 20,000 shares of the stock in a transaction on Monday, October 20th. The stock was purchased at an average price of $13.64 per share, for a total transaction of $272,800.00. Following the acquisition, the chief executive officer owned 468,277 shares in the company, valued at approximately $6,387,298.28. This trade represents a 4.46% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Steven L. Hoerter bought 20,000 shares of the company’s stock in a transaction that occurred on Friday, October 17th. The stock was purchased at an average cost of $13.25 per share, for a total transaction of $265,000.00. Following the transaction, the director owned 20,000 shares in the company, valued at $265,000. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 52.19% of the company’s stock.

Institutional Investors Weigh In On MBX Biosciences

Several hedge funds have recently bought and sold shares of MBX. Virtus Investment Advisers LLC lifted its position 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 acquiring an additional 766 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of MBX Biosciences by 4,131.4% in the third quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company’s stock worth $26,000 after purchasing an additional 1,446 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings 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 purchasing an additional 1,567 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of MBX Biosciences in the third quarter valued at approximately $27,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of MBX Biosciences by 40.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,329 shares of the company’s stock valued at $106,000 after buying 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.