MBX Biosciences (NASDAQ:MBX) Stock Jumps 5.2% – Time to Buy?

MBX Biosciences, Inc. (NASDAQ:MBX) rose 5.2% during trading on Tuesday. The stock traded as high as $57.96 and last traded at $56.8950. Approximately 170,981 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 636,799 shares. The stock had previously closed at $54.06.

Analyst Upgrades and Downgrades

MBX has been the subject of several analyst reports. Stifel Nicolaus raised their target price on shares of MBX Biosciences from $70.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, October 12th. JPMorgan Chase & Co. initiated coverage on shares of MBX Biosciences in a research report on Friday, August 21st. They set an “overweight” rating and a $88.00 price target on the stock. Barclays reiterated an “overweight” rating and issued a $88.00 price target on shares of MBX Biosciences in a research note on Friday, August 7th. Truist Financial lifted their price objective on shares of MBX Biosciences from $70.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Finally, Wall Street Zen lowered shares of MBX Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $87.00.

MBX Biosciences Price Performance

The company has a market capitalization of $2.75 billion, a price-to-earnings ratio of -23.71 and a beta of 0.17. The stock has a 50-day moving average price of $56.19 and a 200-day moving average price of $46.03.

MBX Biosciences (NASDAQ:MBX) last issued its earnings results on Monday, November 9th. The company reported ($1.29) EPS for the quarter, missing the consensus estimate of ($0.80) by ($0.49). Equities analysts forecast that MBX Biosciences, Inc. will post -3.10 earnings per share for the current year.

Hedge Funds Weigh In On MBX Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MBX. Strs Ohio lifted its position in MBX Biosciences by 128.6% during the first quarter. Strs Ohio now owns 1,600 shares of the company’s stock worth $48,000 after acquiring an additional 900 shares during the last quarter. State of Wyoming acquired a new position in shares of MBX Biosciences in the second quarter valued at approximately $58,000. Sterling Capital Management LLC grew its position in shares of MBX Biosciences by 847.7% in the third quarter. Sterling Capital Management LLC now owns 1,033 shares of the company’s stock valued at $61,000 after purchasing an additional 924 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of MBX Biosciences during the third quarter worth approximately $144,000. Finally, Quantbot Technologies LP bought a new position in shares of MBX Biosciences during the second quarter worth approximately $213,000.

MBX Biosciences Company Profile

MBX Biosciences, Inc. is a clinical-stage biopharmaceutical company developing peptide-based treatments for endocrine and metabolic disorders. The company’s research focuses on conditions in which naturally occurring hormones are deficient or do not function adequately. MBX uses its Precision Endocrine Peptide (PEP) platform to design peptide medicines intended to provide more durable hormone activity. Its lead candidate, MBX 2109, is being developed as a long-acting parathyroid hormone replacement therapy for people with chronic hypoparathyroidism.