MBX Biosciences (NASDAQ:MBX) Trading 8.5% Higher – Here’s Why

MBX Biosciences, Inc. (NASDAQ:MBX)’s stock price shot up 8.5% during trading on Thursday . The company traded as high as $37.79 and last traded at $37.9610. 190,927 shares changed hands during trading, a decline of 74% from the average session volume of 722,074 shares. The stock had previously closed at $35.00.

Analyst Upgrades and Downgrades

MBX has been the subject of several research analyst reports. Truist Financial began coverage on MBX Biosciences in a research report on Wednesday, October 15th. They set a “buy” rating and a $50.00 target price for the company. Stifel Nicolaus increased their price objective on shares of MBX Biosciences from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday, December 19th. Barclays assumed coverage on shares of MBX Biosciences in a research note on Tuesday, January 27th. They set an “overweight” rating and a $66.00 target price for the company. TD Cowen began coverage on shares of MBX Biosciences in a research note on Tuesday, November 4th. They issued a “buy” rating on the stock. Finally, Wall Street Zen raised shares of MBX Biosciences from a “sell” rating to a “hold” rating in a report on Sunday, December 21st. Eleven equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.20.

MBX Biosciences Stock Performance

The stock’s 50 day simple moving average is $34.16. The firm has a market capitalization of $1.71 billion, a P/E ratio of -15.90 and a beta of 0.87.

Institutional Investors Weigh In On MBX Biosciences

Several large investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its position in 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 during the period. FNY Investment Advisers LLC bought a new position in shares of MBX Biosciences during the 3rd quarter valued at approximately $27,000. GF Fund Management CO. LTD. purchased a new stake in MBX Biosciences during the 4th quarter valued at $28,000. BNP Paribas Financial Markets lifted its position in MBX Biosciences by 117.9% in the third quarter. BNP Paribas Financial Markets now owns 2,896 shares of the company’s stock worth $51,000 after buying an additional 1,567 shares during the last quarter. Finally, CWM LLC boosted its stake in MBX Biosciences by 28.9% during the fourth quarter. CWM LLC now owns 1,784 shares of the company’s stock worth $56,000 after buying an additional 400 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.