MBX Biosciences (NASDAQ:MBX) Stock Price Up 5.1% – Still a Buy?

MBX Biosciences, Inc. (NASDAQ:MBX)’s stock price traded up 5.1% during mid-day trading on Friday . The company traded as high as $60.11 and last traded at $61.2950. 78,622 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 706,928 shares. The stock had previously closed at $58.32.

Wall Street Analyst Weigh In

MBX has been the topic of a number of analyst reports. Lifesci Capital raised shares of MBX Biosciences to a “strong-buy” rating in a research note on Tuesday, March 31st. Barclays boosted their target price on shares of MBX Biosciences from $66.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Citigroup reissued an “outperform” rating on shares of MBX Biosciences in a report on Tuesday, May 12th. Truist Financial raised their price target on shares of MBX Biosciences from $50.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MBX Biosciences in a report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $63.00.

MBX Biosciences Trading Up 7.9%

The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of -28.47 and a beta of 0.16. The company has a fifty day moving average of $42.96 and a 200-day moving average of $36.85.

Institutional Investors Weigh In On MBX Biosciences

A number of hedge funds have recently modified their holdings of the business. Geode Capital Management LLC lifted its position in MBX Biosciences by 27.0% during the second quarter. Geode Capital Management LLC now owns 348,447 shares of the company’s stock worth $3,976,000 after buying an additional 73,989 shares in the last quarter. Rhumbline Advisers boosted its stake in MBX Biosciences by 171.6% during the second quarter. Rhumbline Advisers now owns 23,662 shares of the company’s stock worth $270,000 after buying an additional 14,950 shares during the last quarter. XTX Topco Ltd purchased a new stake in MBX Biosciences in the 2nd quarter valued at $135,000. The Manufacturers Life Insurance Company grew its holdings in MBX Biosciences by 73.8% in 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 in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of MBX Biosciences by 40.3% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,329 shares of the company’s stock worth $106,000 after acquiring 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.