MBX Biosciences (NASDAQ:MBX) Stock Price Up 5.1% – What’s Next?

MBX Biosciences, Inc. (NASDAQ:MBX) rose 5.1% during trading on Friday . The company traded as high as $60.11 and last traded at $61.2950. 78,622 shares traded hands during trading, a decline of 89% from the average session volume of 706,928 shares. The stock had previously closed at $58.32.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Truist Financial upped their target price on MBX Biosciences from $50.00 to $70.00 and gave the company a “buy” rating in a report on Monday, May 11th. Lifesci Capital raised shares of MBX Biosciences to a “strong-buy” rating in a research report on Tuesday, March 31st. Citizens Jmp increased their target price on shares of MBX Biosciences from $76.00 to $86.00 and gave the stock a “market outperform” rating in a research report on Tuesday, May 12th. Citigroup reissued an “outperform” rating on shares of MBX Biosciences in a research note on Tuesday, May 12th. Finally, Wall Street Zen raised shares of MBX Biosciences from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $63.00.

MBX Biosciences Stock Performance

The firm has a market cap of $2.96 billion, a P/E ratio of -28.18 and a beta of 0.16. The company has a 50 day moving average of $42.53 and a 200 day moving average of $36.67.

Institutional Trading of MBX Biosciences

Several large investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. increased its stake in shares of MBX Biosciences by 4,131.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company’s stock worth $26,000 after purchasing an additional 1,446 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of MBX Biosciences in the 3rd quarter valued at $27,000. GF Fund Management CO. LTD. bought a new stake in MBX Biosciences in the fourth quarter worth $28,000. Strs Ohio boosted its holdings in MBX Biosciences by 128.6% in the first 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. Finally, Royal Bank of Canada increased its position in MBX Biosciences by 59.6% during the fourth quarter. Royal Bank of Canada now owns 1,532 shares of the company’s stock worth $49,000 after buying an additional 572 shares during the last quarter.

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.