MBX Biosciences (NASDAQ:MBX) Trading Up 11.3% – Here’s What Happened

Shares of MBX Biosciences, Inc. (NASDAQ:MBX) were up 11.3% on Monday . The company traded as high as $40.00 and last traded at $39.51. Approximately 551,234 shares traded hands during trading, a decline of 15% from the average daily volume of 647,360 shares. The stock had previously closed at $35.51.

Analyst Ratings Changes

A number of analysts have recently weighed in on MBX shares. Barclays raised their price target on shares of MBX Biosciences from $66.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Wall Street Zen downgraded shares of MBX Biosciences from a “hold” rating to a “sell” rating in a research note on Sunday, May 17th. Truist Financial increased their price objective on shares of MBX Biosciences from $50.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, May 11th. UBS Group reiterated a “buy” rating on shares of MBX Biosciences in a research note on Tuesday, February 24th. Finally, TD Cowen reiterated a “buy” rating on shares of MBX Biosciences in a research note on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $60.22.

MBX Biosciences Trading Up 3.7%

The stock has a market capitalization of $1.98 billion, a P/E ratio of -18.82 and a beta of 0.75. The stock’s 50 day simple moving average is $32.75 and its 200 day simple moving average is $33.08.

Institutional Investors Weigh In On MBX Biosciences

Institutional investors and hedge funds have recently made changes to their positions in the company. Hudson Bay Capital Management LP acquired a new stake in shares of MBX Biosciences during the 3rd quarter valued at approximately $1,488,000. Ghisallo Capital Management LLC acquired a new stake in shares of MBX Biosciences during the 3rd quarter valued at approximately $669,000. Aaron Wealth Advisors LLC raised its position in shares of MBX Biosciences by 40.0% during the 4th quarter. Aaron Wealth Advisors LLC now owns 70,000 shares of the company’s stock valued at $2,208,000 after acquiring an additional 20,000 shares in the last quarter. Goelzer Investment Management Inc. acquired a new stake in shares of MBX Biosciences during the 4th quarter valued at approximately $6,992,000. Finally, Baker BROS. Advisors LP acquired a new stake in shares of MBX Biosciences during the 3rd quarter valued at approximately $4,861,000.

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.