MBX Biosciences (NASDAQ:MBX) Stock Price Up 8.5% Following Analyst Upgrade

MBX Biosciences, Inc. (NASDAQ:MBX) was up 8.5% on Tuesday after Lifesci Capital upgraded the stock to a strong-buy rating. The company traded as high as $29.47 and last traded at $29.2150. Approximately 131,286 shares changed hands during trading, a decline of 79% from the average daily volume of 628,158 shares. The stock had previously closed at $26.92.

Several other analysts have also commented on the stock. Truist Financial set a $50.00 price target on shares of MBX Biosciences in a research report on Monday, March 9th. Barclays initiated coverage on shares of MBX Biosciences in a research report on Tuesday, January 27th. They issued an “overweight” rating and a $66.00 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of MBX Biosciences in a research report on Thursday, January 22nd. Wall Street Zen upgraded shares of MBX Biosciences from a “sell” rating to a “hold” rating in a research note on Sunday, December 21st. Finally, UBS Group reaffirmed a “buy” rating on shares of MBX Biosciences in a report on Tuesday, February 24th. 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.56.

Insider Activity

In related news, CEO P. Kent Hawryluk acquired 18,500 shares of the business’s stock in a transaction dated Friday, March 13th. The shares were purchased at an average price of $28.41 per share, for a total transaction of $525,585.00. Following the completion of the acquisition, the chief executive officer directly owned 486,777 shares in the company, valued at $13,829,334.57. The trade was a 3.95% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 52.19% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MBX Biosciences

Several hedge funds have recently made changes to their positions in MBX. GF Fund Management CO. LTD. purchased a new stake in MBX Biosciences during the 4th quarter valued at about $28,000. Russell Investments Group Ltd. increased its holdings in shares of MBX Biosciences by 4,131.4% in the third quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company’s stock valued at $26,000 after purchasing an additional 1,446 shares during the period. Royal Bank of Canada raised its holdings in shares of MBX Biosciences by 59.6% during the fourth quarter. Royal Bank of Canada now owns 1,532 shares of the company’s stock worth $49,000 after purchasing an additional 572 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in MBX Biosciences during the 3rd quarter worth about $27,000. Finally, California State Teachers Retirement System boosted its stake in shares of 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 buying an additional 689 shares during the last quarter.

MBX Biosciences Price Performance

The firm has a fifty day moving average of $33.60 and a 200 day moving average of $28.08. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of -13.40 and a beta of 1.25.

MBX Biosciences (NASDAQ:MBX) last released its quarterly earnings data on Thursday, March 12th. The company reported ($0.49) EPS for the quarter, topping the consensus estimate of ($0.64) by $0.15.

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.