MBX Biosciences, Inc. (NASDAQ:MBX) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of MBX Biosciences, Inc. (NASDAQ:MBX) have been assigned an average rating of “Moderate Buy” from the twelve research firms that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating and ten have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $51.5556.

Several research analysts have weighed in on MBX shares. Barclays assumed coverage on shares of MBX Biosciences in a report on Tuesday, January 27th. They set an “overweight” rating and a $66.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of MBX Biosciences in a report on Thursday, January 22nd. UBS Group restated a “buy” rating on shares of MBX Biosciences in a report on Tuesday, February 24th. Guggenheim raised their price target on shares of MBX Biosciences from $77.00 to $88.00 and gave the company a “buy” rating in a research report on Friday, January 16th. Finally, The Goldman Sachs Group started coverage on MBX Biosciences in a research note on Thursday, December 4th. They set a “sell” rating and a $18.00 price target for the company.

MBX Biosciences Stock Performance

Shares of MBX Biosciences stock opened at $28.96 on Thursday. The stock has a market capitalization of $1.38 billion, a PE ratio of -12.02 and a beta of 1.06. MBX Biosciences has a 52 week low of $4.81 and a 52 week high of $44.89. The stock has a 50 day moving average price of $34.80 and a two-hundred day moving average price of $27.43.

MBX Biosciences (NASDAQ:MBX) last issued its earnings results on Thursday, March 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.15.

Insider Transactions at MBX Biosciences

In related news, CEO P. Kent Hawryluk purchased 18,500 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The stock was acquired at an average price of $28.41 per share, for a total transaction of $525,585.00. Following the completion of the acquisition, the chief executive officer owned 486,777 shares of the company’s stock, valued at $13,829,334.57. This represents a 3.95% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 52.19% of the company’s stock.

Hedge Funds Weigh In On MBX Biosciences

Hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in shares of MBX Biosciences by 27.0% in the 2nd 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 in the last quarter. Intech Investment Management LLC lifted its position in shares of MBX Biosciences by 33.0% during the second quarter. Intech Investment Management LLC now owns 14,271 shares of the company’s stock valued at $163,000 after purchasing an additional 3,543 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new position in MBX Biosciences during the second quarter worth about $389,000. Franklin Resources Inc. boosted its holdings 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 purchasing an additional 125,537 shares during the last quarter. Finally, Rhumbline Advisers grew its position in MBX Biosciences by 171.6% in the 2nd quarter. Rhumbline Advisers now owns 23,662 shares of the company’s stock worth $270,000 after purchasing an additional 14,950 shares in 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.