Wall Street Zen Upgrades MBX Biosciences (NASDAQ:MBX) to Hold

MBX Biosciences (NASDAQ:MBX) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

Several other equities research analysts have also recently commented on MBX. Lifesci Capital raised shares of MBX Biosciences to a “strong-buy” rating in a research report on Tuesday, March 31st. Stifel Nicolaus set a $56.00 price target on MBX Biosciences in a report on Tuesday, May 12th. Truist Financial increased their price objective on MBX Biosciences from $50.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of MBX Biosciences in a research report on Friday, July 17th. Finally, UBS Group reaffirmed a “buy” rating and set a $90.00 price target on shares of MBX Biosciences in a research note on Thursday. One research 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $66.75.

MBX Biosciences Stock Down 1.1%

MBX Biosciences stock opened at $61.30 on Tuesday. The company has a 50 day moving average of $46.01 and a 200-day moving average of $38.18. MBX Biosciences has a twelve month low of $9.63 and a twelve month high of $66.66. The stock has a market capitalization of $2.92 billion, a PE ratio of -27.74 and a beta of 0.16.

Institutional Investors Weigh In On MBX Biosciences

Several large investors have recently made changes to their positions in the stock. GF Fund Management CO. LTD. acquired a new position in MBX Biosciences during the fourth quarter worth approximately $28,000. Russell Investments Group Ltd. raised its stake in MBX Biosciences by 4,131.4% in the 3rd 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 in the last quarter. Royal Bank of Canada increased its holdings in shares of MBX Biosciences by 59.6% during the fourth quarter. Royal Bank of Canada now owns 1,532 shares of the company’s stock worth $49,000 after purchasing an additional 572 shares during the period. Strs Ohio grew its position in MBX Biosciences by 128.6% during the first quarter. Strs Ohio now owns 1,600 shares of the company’s stock worth $48,000 after buying an additional 900 shares in the last quarter. Finally, California State Teachers Retirement System raised its holdings in MBX Biosciences by 64.7% in the 4th quarter. California State Teachers Retirement System now owns 1,754 shares of the company’s stock valued at $55,000 after acquiring an additional 689 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.