MBX Biosciences (NASDAQ:MBX) Sets New 52-Week High on Analyst Upgrade

MBX Biosciences, Inc. (NASDAQ:MBX) hit a new 52-week high during trading on Thursday after Mizuho raised their price target on the stock from $57.00 to $91.00. Mizuho currently has an outperform rating on the stock. MBX Biosciences traded as high as $66.66 and last traded at $66.46, with a volume of 547982 shares. The stock had previously closed at $63.96.

A number of other brokerages have also commented on MBX. Truist Financial raised their price target on MBX Biosciences from $50.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MBX Biosciences in a research note on Friday, July 17th. Lifesci Capital raised shares of MBX Biosciences to a “strong-buy” rating in a research note on Tuesday, March 31st. Citigroup restated an “outperform” rating on shares of MBX Biosciences in a report on Tuesday, May 12th. Finally, Citizens Jmp upped their target price on MBX Biosciences from $76.00 to $86.00 and gave the stock a “market outperform” rating in a report on Tuesday, May 12th. One investment 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $71.12.

Institutional Trading of MBX Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in MBX. CWM LLC raised its stake in MBX Biosciences by 28.9% during the fourth quarter. CWM LLC now owns 1,784 shares of the company’s stock valued at $56,000 after buying an additional 400 shares during the last quarter. Royal Bank of Canada grew its stake in shares of MBX Biosciences by 59.6% in the fourth quarter. Royal Bank of Canada now owns 1,532 shares of the company’s stock worth $49,000 after acquiring an additional 572 shares during the last quarter. California State Teachers Retirement System increased its holdings in shares of MBX Biosciences by 64.7% during the fourth 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. GF Fund Management CO. LTD. purchased a new position in shares of MBX Biosciences in the 4th quarter worth about $28,000. Finally, Strs Ohio boosted its stake in MBX Biosciences by 128.6% in the 1st quarter. Strs Ohio now owns 1,600 shares of the company’s stock worth $48,000 after purchasing an additional 900 shares in the last quarter.

MBX Biosciences Trading Up 3.9%

The firm has a market capitalization of $3.16 billion, a P/E ratio of -30.07 and a beta of 0.16. The business’s 50 day simple moving average is $47.25 and its two-hundred day simple moving average is $38.61.

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.