MBX Biosciences (NASDAQ:MBX) Releases Earnings Results, Misses Estimates By $0.10 EPS

MBX Biosciences (NASDAQ:MBX) announced its quarterly earnings results on Thursday. The company reported ($0.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.10), FiscalAI reports.

MBX Biosciences Stock Performance

Shares of MBX traded down $0.37 on Thursday, hitting $67.11. 528,703 shares of the stock traded hands, compared to its average volume of 685,106. MBX Biosciences has a one year low of $9.63 and a one year high of $72.64. The company has a market capitalization of $3.19 billion, a PE ratio of -30.37 and a beta of 0.10. The business has a 50 day simple moving average of $51.47 and a 200 day simple moving average of $39.83.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Citigroup restated an “outperform” rating on shares of MBX Biosciences in a report on Tuesday, May 12th. Barclays lifted their target price on shares of MBX Biosciences from $66.00 to $70.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of MBX Biosciences in a research report on Friday, July 17th. UBS Group restated a “buy” rating and issued a $90.00 price target on shares of MBX Biosciences in a research note on Thursday, July 23rd. Finally, Truist Financial raised their price objective on MBX Biosciences from $50.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, MBX Biosciences currently has a consensus rating of “Moderate Buy” and an average price target of $71.12.

Institutional Trading of MBX Biosciences

A number of institutional investors and hedge funds 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 third 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. GF Fund Management CO. LTD. purchased a new position in MBX Biosciences in the 4th quarter worth about $28,000. Strs Ohio raised its position 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 buying an additional 900 shares during the last quarter. Royal Bank of Canada lifted its stake in MBX Biosciences by 59.6% during the 4th quarter. Royal Bank of Canada now owns 1,532 shares of the company’s stock valued at $49,000 after acquiring an additional 572 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in MBX Biosciences by 117.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,896 shares of the company’s stock valued at $51,000 after acquiring an additional 1,567 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.