MBX Biosciences (NASDAQ:MBX) Downgraded to “Sell” Rating by Wall Street Zen

MBX Biosciences (NASDAQ:MBX) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

A number of other equities analysts have also commented on the stock. Lifesci Capital upgraded shares of MBX Biosciences to a “strong-buy” rating in a report on Tuesday, March 31st. Truist Financial set a $50.00 price target on shares of MBX Biosciences in a report on Monday, March 9th. Guggenheim lifted their price target on shares of MBX Biosciences from $77.00 to $88.00 and gave the stock a “buy” rating in a report on Friday, January 16th. Barclays initiated coverage on shares of MBX Biosciences in a report on Tuesday, January 27th. They set an “overweight” rating and a $66.00 price target on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of MBX Biosciences in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.25.

MBX Biosciences Price Performance

Shares of MBX Biosciences stock opened at $31.00 on Friday. The firm has a market cap of $1.47 billion, a P/E ratio of -12.86 and a beta of 1.25. The firm has a 50 day simple moving average of $32.81 and a 200 day simple moving average of $28.94. MBX Biosciences has a fifty-two week low of $6.34 and a fifty-two week high of $44.89.

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

Insider Activity

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

Institutional Investors Weigh In On MBX Biosciences

Institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC boosted its position in MBX Biosciences by 27.0% during the 2nd quarter. Geode Capital Management LLC now owns 348,447 shares of the company’s stock valued at $3,976,000 after buying an additional 73,989 shares during the period. Rhumbline Advisers boosted its position in MBX Biosciences by 171.6% during the 2nd quarter. Rhumbline Advisers now owns 23,662 shares of the company’s stock valued at $270,000 after buying an additional 14,950 shares during the period. XTX Topco Ltd purchased a new stake in MBX Biosciences during the 2nd quarter valued at $135,000. The Manufacturers Life Insurance Company boosted its position in MBX Biosciences by 73.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 87,097 shares of the company’s stock valued at $994,000 after buying an additional 36,987 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in MBX Biosciences by 40.3% during the 2nd 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 period.

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.