MBX Biosciences (NASDAQ:MBX) Sees Unusually-High Trading Volume – Here’s Why

Shares of MBX Biosciences, Inc. (NASDAQ:MBX) saw unusually-strong trading volume on Tuesday . Approximately 1,486,168 shares traded hands during mid-day trading, an increase of 96% from the previous session’s volume of 758,164 shares.The stock last traded at $39.93 and had previously closed at $39.07.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MBX. Guggenheim raised their price target on MBX Biosciences from $77.00 to $88.00 and gave the company a “buy” rating in a report on Friday, January 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MBX Biosciences in a research note on Thursday, January 22nd. TD Cowen initiated coverage on shares of MBX Biosciences in a research report on Tuesday, November 4th. They set a “buy” rating for the company. UBS Group started coverage on shares of MBX Biosciences in a report on Wednesday, January 7th. They issued a “buy” rating and a $60.00 price objective on the stock. Finally, Barclays initiated coverage on shares of MBX Biosciences in a research note on Tuesday, January 27th. They issued an “overweight” rating and a $66.00 price objective on the stock. Eleven investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.20.

MBX Biosciences Stock Performance

The stock has a market cap of $1.62 billion, a PE ratio of -15.08 and a beta of 0.87. The stock’s fifty day moving average is $33.90.

MBX Biosciences (NASDAQ:MBX) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.10.

Institutional Investors Weigh In On MBX Biosciences

Several large investors have recently modified their holdings of the business. Russell Investments Group Ltd. lifted its holdings in shares of MBX Biosciences by 4,131.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company’s stock valued at $26,000 after purchasing an additional 1,446 shares in the last quarter. FNY Investment Advisers LLC bought a new position in MBX Biosciences in the third quarter valued at approximately $27,000. GF Fund Management CO. LTD. acquired a new position in shares of MBX Biosciences in the fourth quarter valued at approximately $28,000. BNP Paribas Financial Markets increased its position in shares of MBX Biosciences by 117.9% during the third quarter. BNP Paribas Financial Markets now owns 2,896 shares of the company’s stock worth $51,000 after acquiring an additional 1,567 shares in the last quarter. Finally, CWM LLC raised its holdings in shares of MBX Biosciences by 28.9% during the fourth quarter. CWM LLC now owns 1,784 shares of the company’s stock worth $56,000 after acquiring an additional 400 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.