MBX Biosciences (NASDAQ:MBX) Trading 11.3% Higher – Here’s Why

MBX Biosciences, Inc. (NASDAQ:MBX)’s stock price rose 11.3% on Monday . The company traded as high as $40.00 and last traded at $39.51. Approximately 551,234 shares were traded during trading, a decline of 15% from the average daily volume of 647,360 shares. The stock had previously closed at $35.51.

Analyst Ratings Changes

MBX has been the subject of a number of research reports. Lifesci Capital raised shares of MBX Biosciences to a “strong-buy” rating in a report on Tuesday, March 31st. Stifel Nicolaus set a $56.00 target price on MBX Biosciences in a research note on Tuesday, May 12th. Wall Street Zen cut MBX Biosciences from a “hold” rating to a “sell” rating in a research note on Sunday, May 17th. Truist Financial increased their price target on MBX Biosciences from $50.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Finally, Citigroup reissued an “outperform” rating on shares of MBX Biosciences in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $60.22.

MBX Biosciences Price Performance

The company’s 50 day moving average is $32.49 and its 200 day moving average is $32.98. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of -17.24 and a beta of 0.75.

MBX Biosciences (NASDAQ:MBX) last posted its earnings results on Thursday, March 12th. The company reported ($0.49) EPS for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.15. Sell-side analysts predict that MBX Biosciences, Inc. will post -2.84 earnings per share for the current year.

Institutional Trading of MBX Biosciences

A number of institutional investors have recently bought and sold shares of MBX. Wellington Management Group LLP boosted its position in MBX Biosciences by 112.8% during the third quarter. Wellington Management Group LLP now owns 4,823,336 shares of the company’s stock worth $84,408,000 after purchasing an additional 2,556,708 shares in the last quarter. Aaron Wealth Advisors LLC lifted its position in shares of MBX Biosciences by 1,568.8% in the first quarter. Aaron Wealth Advisors LLC now owns 1,168,176 shares of the company’s stock valued at $34,870,000 after acquiring an additional 1,098,176 shares in the last quarter. Braidwell LP purchased a new stake in shares of MBX Biosciences in the fourth quarter valued at $32,127,000. Deep Track Capital LP lifted its position in shares of MBX Biosciences by 43.9% in the third quarter. Deep Track Capital LP now owns 3,150,000 shares of the company’s stock valued at $55,125,000 after acquiring an additional 961,408 shares in the last quarter. Finally, Eventide Asset Management LLC purchased a new stake in shares of MBX Biosciences in the fourth quarter valued at $28,071,000.

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.