MBX Biosciences, Inc. (NASDAQ:MBX) Given Consensus Rating of “Moderate Buy” by Brokerages

MBX Biosciences, Inc. (NASDAQ:MBX) has been given a consensus recommendation of “Moderate Buy” by the twelve ratings firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation and ten have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $51.5556.

MBX has been the topic of a number of recent analyst reports. Barclays began 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. Guggenheim upped their target price on MBX Biosciences from $77.00 to $88.00 and gave the stock a “buy” rating in a research note on Friday, January 16th. Stifel Nicolaus increased their target price on MBX Biosciences from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of MBX Biosciences in a research note on Thursday, January 22nd. Finally, TD Cowen restated a “buy” rating on shares of MBX Biosciences in a research report on Thursday, March 12th.

MBX Biosciences Stock Performance

MBX opened at $26.92 on Thursday. The company has a fifty day moving average of $34.04 and a two-hundred day moving average of $27.92. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of -11.17 and a beta of 1.07. MBX Biosciences has a fifty-two week low of $4.81 and a fifty-two week high of $44.89.

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

Insider Activity at MBX Biosciences

In related news, CEO P. Kent Hawryluk bought 18,500 shares of the business’s stock in a transaction dated Friday, March 13th. The stock was acquired at an average price of $28.41 per share, with a total value of $525,585.00. Following the completion of the purchase, the chief executive officer directly owned 486,777 shares of the company’s stock, valued at approximately $13,829,334.57. This trade represents a 3.95% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

Institutional Investors Weigh In On MBX Biosciences

Several institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. increased its stake in MBX Biosciences by 4,131.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company’s stock worth $26,000 after buying an additional 1,446 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of MBX Biosciences in the third quarter worth approximately $27,000. GF Fund Management CO. LTD. acquired a new stake in shares of MBX Biosciences in the fourth quarter worth approximately $28,000. Royal Bank of Canada increased its position 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 in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in MBX Biosciences by 117.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,896 shares of the company’s stock valued at $51,000 after purchasing an additional 1,567 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.