Brokerages Set MBX Biosciences, Inc. (NASDAQ:MBX) PT at $51.56

Shares of MBX Biosciences, Inc. (NASDAQ:MBX) have received a consensus recommendation of “Moderate Buy” from the twelve research firms that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and ten have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $51.5556.

MBX has been the topic of several recent analyst reports. UBS Group restated a “buy” rating on shares of MBX Biosciences in a report on Tuesday, February 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MBX Biosciences in a research note on Thursday, January 22nd. Stifel Nicolaus upped their price target on shares of MBX Biosciences from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, December 19th. Barclays assumed coverage on shares of MBX Biosciences in a report on Tuesday, January 27th. They issued an “overweight” rating and a $66.00 price target for the company. Finally, TD Cowen reiterated a “buy” rating on shares of MBX Biosciences in a research note on Thursday, March 12th.

MBX Biosciences Price Performance

MBX Biosciences stock opened at $28.50 on Thursday. MBX Biosciences has a 1-year low of $4.81 and a 1-year high of $44.89. The business has a fifty day moving average price of $34.31 and a 200-day moving average price of $27.67. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of -11.83 and a beta of 1.06.

MBX Biosciences (NASDAQ:MBX) last announced its earnings results on Thursday, March 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.64) by $0.15.

Insider Transactions at MBX Biosciences

In other news, CEO P. Kent Hawryluk purchased 18,500 shares of the stock in a transaction on Friday, March 13th. The stock was bought at an average price of $28.41 per share, with a total value of $525,585.00. Following the transaction, the chief executive officer owned 486,777 shares in the company, valued at $13,829,334.57. The trade was a 3.95% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 52.19% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MBX. Hudson Bay Capital Management LP purchased a new stake in MBX Biosciences in the third quarter valued at approximately $1,488,000. Sio Capital Management LLC purchased a new position in MBX Biosciences during the 2nd quarter worth approximately $2,750,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in MBX Biosciences during the 3rd quarter worth approximately $498,000. Resolute Capital Asset Partners LLC acquired a new stake in MBX Biosciences during the 2nd quarter valued at approximately $567,000. Finally, Walleye Capital LLC lifted its stake in MBX Biosciences by 116.5% during the 2nd quarter. Walleye Capital LLC now owns 70,333 shares of the company’s stock valued at $802,000 after acquiring an additional 37,843 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.