MBX Biosciences, Inc. (NASDAQ:MBX) Stock Has Consensus Price Target of $87.00

MBX Biosciences, Inc. (NASDAQ:MBX) has been given an average rating of “Moderate Buy” by the fourteen analysts that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, eleven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $87.30.

Several research analysts have recently issued reports on MBX shares. Mizuho boosted their price objective on shares of MBX Biosciences from $57.00 to $91.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. Wall Street Zen downgraded MBX Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. JPMorgan Chase & Co. initiated coverage on shares of MBX Biosciences in a research note on Friday, August 21st. They set an “overweight” rating and a $88.00 price target on the stock. Citigroup reaffirmed a “market outperform” rating on shares of MBX Biosciences in a report on Tuesday, October 27th. Finally, Barclays reissued an “overweight” rating and issued a $88.00 target price on shares of MBX Biosciences in a research note on Friday, August 7th.

MBX Biosciences Trading Down 5.6%

Shares of MBX opened at $54.51 on Friday. MBX Biosciences has a one year low of $23.07 and a one year high of $72.64. The company’s fifty day moving average price is $55.89 and its 200 day moving average price is $46.29.

MBX Biosciences (NASDAQ:MBX) last posted its quarterly earnings data on Monday, November 9th. The company reported ($1.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.49). As a group, equities analysts predict that MBX Biosciences will post -3.20 EPS for the current year.

Insider Activity at MBX Biosciences

In other MBX Biosciences news, CEO Steven Hoerter sold 4,893 shares of the company’s stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $54.82, for a total value of $268,234.26. Following the sale, the chief executive officer directly owned 78,045 shares in the company, valued at $4,278,426.90. This represents a 5.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 31.09% of the stock is owned by company insiders.

Institutional Trading of MBX Biosciences

Several large investors have recently added to or reduced their stakes in MBX. Strs Ohio boosted its holdings in shares of 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 acquiring an additional 900 shares in the last quarter. Sterling Capital Management LLC increased its holdings in MBX Biosciences by 847.7% during the 3rd quarter. Sterling Capital Management LLC now owns 1,033 shares of the company’s stock valued at $61,000 after purchasing an additional 924 shares in the last quarter. State of Wyoming acquired a new stake in MBX Biosciences during the 2nd quarter valued at $58,000. Sei Investments Co. raised its position in MBX Biosciences by 17.4% in the 1st quarter. Sei Investments Co. now owns 8,989 shares of the company’s stock valued at $268,000 after purchasing an additional 1,332 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in MBX Biosciences in the 3rd quarter valued at $144,000.

About MBX Biosciences

MBX Biosciences, Inc. is a clinical-stage biopharmaceutical company developing peptide-based treatments for endocrine and metabolic disorders. The company’s research focuses on conditions in which naturally occurring hormones are deficient or do not function adequately. MBX uses its Precision Endocrine Peptide (PEP) platform to design peptide medicines intended to provide more durable hormone activity. Its lead candidate, MBX 2109, is being developed as a long-acting parathyroid hormone replacement therapy for people with chronic hypoparathyroidism.