MBX Biosciences (NASDAQ:MBX) Hits New 12-Month High on Analyst Upgrade

MBX Biosciences, Inc. (NASDAQ:MBX) shares hit a new 52-week high during trading on Monday after Truist Financial raised their price target on the stock from $50.00 to $70.00. Truist Financial currently has a buy rating on the stock. MBX Biosciences traded as high as $45.85 and last traded at $43.7770, with a volume of 496091 shares trading hands. The stock had previously closed at $40.97.

Other research analysts also recently issued research reports about the company. Wall Street Zen raised MBX Biosciences from a “sell” rating to a “hold” rating in a report on Saturday. Barclays initiated coverage on MBX Biosciences in a report on Tuesday, January 27th. They set an “overweight” rating and a $66.00 target price on the stock. UBS Group reaffirmed a “buy” rating on shares of MBX Biosciences in a report on Tuesday, February 24th. TD Cowen reaffirmed a “buy” rating on shares of MBX Biosciences in a report on Thursday, March 12th. Finally, Lifesci Capital raised MBX Biosciences to a “strong-buy” rating in a report on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $55.75.

Insider Activity

In related news, CEO P. Kent Hawryluk purchased 18,500 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The shares were acquired at an average price of $28.41 per share, with a total value of $525,585.00. Following the acquisition, the chief executive officer owned 486,777 shares in the company, valued at approximately $13,829,334.57. This trade represents a 3.95% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Institutional Trading of MBX Biosciences

Hedge funds have recently made changes to their positions in the stock. Hudson Bay Capital Management LP bought a new stake in shares of MBX Biosciences in the 3rd quarter worth approximately $1,488,000. Ghisallo Capital Management LLC acquired a new stake in MBX Biosciences in the 3rd quarter valued at approximately $669,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in MBX Biosciences in the 3rd quarter valued at approximately $498,000. Goelzer Investment Management Inc. acquired a new stake in MBX Biosciences in the 4th quarter valued at approximately $6,992,000. Finally, Baker BROS. Advisors LP acquired a new stake in MBX Biosciences in the 3rd quarter valued at approximately $4,861,000.

MBX Biosciences Trading Down 2.2%

The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of -18.14 and a beta of 0.78. The firm has a 50-day moving average of $30.98 and a 200 day moving average of $31.04.

MBX Biosciences (NASDAQ:MBX) last posted its earnings results on Thursday, March 12th. The company reported ($0.49) EPS for the quarter, beating the consensus estimate of ($0.64) by $0.15. Equities research analysts predict that MBX Biosciences, Inc. will post -2.9 EPS for the current fiscal year.

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.