MBX Biosciences (NASDAQ:MBX) Upgraded at Lifesci Capital

Lifesci Capital upgraded shares of MBX Biosciences (NASDAQ:MBX) to a strong-buy rating in a report issued on Tuesday morning,Zacks.com reports.

Several other equities analysts also recently issued reports on MBX. Guggenheim lifted their price target on shares of MBX Biosciences from $77.00 to $88.00 and gave the company a “buy” rating in a report on Friday, January 16th. TD Cowen reaffirmed a “buy” rating on shares of MBX Biosciences in a report on Thursday, March 12th. Truist Financial set a $50.00 target price on shares of MBX Biosciences in a research note on Monday, March 9th. Wall Street Zen raised MBX Biosciences from a “sell” rating to a “hold” rating in a report on Sunday, December 21st. Finally, Barclays assumed coverage on MBX Biosciences in a research report on Tuesday, January 27th. They set an “overweight” rating and a $66.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.56.

MBX Biosciences Price Performance

MBX Biosciences stock opened at $32.99 on Tuesday. The firm has a market capitalization of $1.57 billion, a P/E ratio of -13.69 and a beta of 1.25. The stock has a fifty day moving average price of $33.41 and a two-hundred day moving average price of $28.11. MBX Biosciences has a 52-week low of $4.81 and a 52-week high of $44.89.

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

Insider Buying and Selling

In related news, CEO P. Kent Hawryluk acquired 18,500 shares of the firm’s stock in a transaction on Friday, March 13th. The shares were purchased at an average price of $28.41 per share, with a total value of $525,585.00. Following the acquisition, the chief executive officer directly owned 486,777 shares in the company, valued at $13,829,334.57. The trade was a 3.95% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 52.19% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MBX Biosciences

A number of large investors have recently modified their holdings of MBX. CWM LLC increased its holdings in shares of MBX Biosciences by 28.9% in the fourth quarter. CWM LLC now owns 1,784 shares of the company’s stock valued at $56,000 after purchasing an additional 400 shares in the last quarter. Royal Bank of Canada boosted its holdings in MBX Biosciences by 59.6% in the fourth quarter. Royal Bank of Canada now owns 1,532 shares of the company’s stock valued at $49,000 after acquiring an additional 572 shares during the last quarter. California State Teachers Retirement System increased its position in MBX Biosciences by 64.7% in the fourth quarter. California State Teachers Retirement System now owns 1,754 shares of the company’s stock worth $55,000 after purchasing an additional 689 shares during the period. GF Fund Management CO. LTD. acquired a new stake in MBX Biosciences in the fourth quarter worth about $28,000. Finally, The Manufacturers Life Insurance Company raised its holdings in MBX Biosciences by 1.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 69,551 shares of the company’s stock worth $2,155,000 after purchasing an additional 1,175 shares during 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.