MBX Biosciences (NASDAQ:MBX) Research Coverage Started at HC Wainwright

HC Wainwright initiated coverage on shares of MBX Biosciences (NASDAQ:MBX) in a report issued on Thursday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $90.00 target price on the stock.

A number of other brokerages have also issued reports on MBX. Stifel Nicolaus increased their price objective on shares of MBX Biosciences from $70.00 to $84.00 and gave the company a “buy” rating in a report on Monday, October 12th. Guggenheim boosted their target price on shares of MBX Biosciences from $88.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, October 2nd. Barclays restated an “overweight” rating and set a $88.00 target price on shares of MBX Biosciences in a research report on Friday, August 7th. Truist Financial raised their target price on shares of MBX Biosciences from $70.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Finally, Mizuho lifted their price target on shares of MBX Biosciences from $57.00 to $91.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $87.30.

MBX Biosciences Trading Up 2.6%

NASDAQ:MBX traded up $1.43 during trading hours on Thursday, reaching $55.94. The company had a trading volume of 855,450 shares, compared to its average volume of 535,772. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of -18.22 and a beta of 0.17. The firm’s 50 day moving average price is $55.78 and its 200-day moving average price is $46.39. MBX Biosciences has a 52 week low of $23.07 and a 52 week high of $72.64.

MBX Biosciences (NASDAQ:MBX) last posted its quarterly earnings data on Monday, November 9th. The company reported ($1.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.49). On average, analysts forecast that MBX Biosciences will post -3.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In other MBX Biosciences news, CEO Steven Hoerter sold 4,893 shares of MBX Biosciences stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $54.82, for a total transaction of $268,234.26. Following the completion of the sale, the chief executive officer directly owned 78,045 shares of the company’s stock, valued at $4,278,426.90. The trade was a 5.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 31.09% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MBX Biosciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in MBX. Wellington Management Group LLP grew its stake in MBX Biosciences by 55.9% during the 2nd quarter. Wellington Management Group LLP now owns 4,977,523 shares of the company’s stock worth $274,759,000 after buying an additional 1,785,699 shares during the last quarter. BlackRock Inc. acquired a new stake in MBX Biosciences in the second quarter worth about $183,467,000. Parkman Healthcare Partners LLC acquired a new stake in MBX Biosciences in the second quarter worth about $44,170,000. Bank of America Corp DE acquired a new stake in MBX Biosciences in the second quarter worth about $16,501,000. Finally, Stempoint Capital LP grew its stake in shares of MBX Biosciences by 535.8% during the first quarter. Stempoint Capital LP now owns 499,469 shares of the company’s stock worth $14,909,000 after acquiring an additional 420,916 shares during the last quarter.

More MBX Biosciences News

These are some of the MBX news items that stood out recently:

• Positive Sentiment: Oppenheimer initiated or reiterated a Buy rating on MBX, adding to favorable analyst sentiment. Oppenheimer Buy rating
• Positive Sentiment: HC Wainwright initiated coverage with a Buy rating and a $90 price target, implying substantial upside from the roughly $56 share price cited in the coverage report. Citizens also reiterated its Market Outperform rating. HC Wainwright coverage Citizens rating
• Negative Sentiment: MBX reported a quarterly loss of $1.29 per share, wider than analysts’ expected loss of $0.80, a headwind that contrasts with the upbeat analyst ratings.

About MBX Biosciences

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.