MBX Biosciences (NASDAQ:MBX) Upgraded at Lifesci Capital

MBX Biosciences (NASDAQ:MBX) was upgraded by investment analysts at Lifesci Capital to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other research analysts have also weighed in on MBX. UBS Group restated a “buy” rating on shares of MBX Biosciences in a research report on Tuesday, February 24th. Stifel Nicolaus increased their price target on MBX Biosciences from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, December 19th. Guggenheim raised their price target on MBX Biosciences from $77.00 to $88.00 and gave the company a “buy” rating in a report on Friday, January 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MBX Biosciences in a research note on Thursday, January 22nd. Finally, The Goldman Sachs Group assumed coverage on MBX Biosciences in a report on Thursday, December 4th. They set a “sell” rating and a $18.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $51.56.

MBX Biosciences Price Performance

Shares of MBX opened at $32.29 on Tuesday. The firm has a market cap of $1.53 billion, a P/E ratio of -13.40 and a beta of 1.25. MBX Biosciences has a 1 year low of $4.81 and a 1 year high of $44.89. The company has a 50 day simple moving average of $33.60 and a two-hundred day simple moving average of $28.08.

MBX Biosciences (NASDAQ:MBX) last issued its earnings results on Thursday, March 12th. The company reported ($0.49) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.15.

Insider Buying and Selling

In related news, CEO P. Kent Hawryluk acquired 18,500 shares of MBX Biosciences stock in a transaction on Friday, March 13th. The shares were bought at an average cost of $28.41 per share, with a total value of $525,585.00. Following the completion of the purchase, the chief executive officer directly owned 486,777 shares of the company’s stock, valued at $13,829,334.57. The trade was a 3.95% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 52.19% of the company’s stock.

Hedge Funds Weigh In On MBX Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of MBX. GF Fund Management CO. LTD. bought a new stake in MBX Biosciences in the fourth quarter worth $28,000. Russell Investments Group Ltd. grew its stake in shares of MBX Biosciences by 4,131.4% during the third quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company’s stock valued at $26,000 after buying an additional 1,446 shares during the last quarter. Royal Bank of Canada boosted its holdings in MBX Biosciences by 59.6% during the 4th quarter. Royal Bank of Canada now owns 1,532 shares of the company’s stock valued at $49,000 after acquiring an additional 572 shares during the period. FNY Investment Advisers LLC bought a new position in MBX Biosciences in the 3rd quarter valued at $27,000. Finally, California State Teachers Retirement System increased its stake in MBX Biosciences by 64.7% in the fourth quarter. California State Teachers Retirement System now owns 1,754 shares of the company’s stock worth $55,000 after purchasing an additional 689 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.