MBX Biosciences (NASDAQ:MBX) Reaches New 1-Year High – Here’s What Happened

Shares of MBX Biosciences, Inc. (NASDAQ:MBX) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $54.86 and last traded at $53.8510, with a volume of 101608 shares changing hands. The stock had previously closed at $52.31.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on MBX shares. TD Cowen reiterated a “buy” rating on shares of MBX Biosciences in a report on Thursday, March 12th. Citizens Jmp raised their price objective on MBX Biosciences from $76.00 to $86.00 and gave the stock a “market outperform” rating in a research report on Tuesday, May 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MBX Biosciences in a research report on Tuesday, April 21st. Barclays upped their price target on MBX Biosciences from $66.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Finally, Citigroup restated an “outperform” rating on shares of MBX Biosciences in a research note on Tuesday, May 12th. One 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $60.22.

MBX Biosciences Price Performance

The company’s 50 day moving average price is $35.02 and its 200 day moving average price is $33.83. The firm has a market capitalization of $2.56 billion, a P/E ratio of -24.37 and a beta of 0.75.

Hedge Funds Weigh In On MBX Biosciences

Large investors have recently bought and sold shares of the business. Russell Investments Group Ltd. grew its position in shares of MBX Biosciences by 4,131.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company’s stock worth $26,000 after buying an additional 1,446 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of MBX Biosciences during the third quarter worth $27,000. GF Fund Management CO. LTD. bought a new stake in shares of MBX Biosciences in the fourth quarter valued at about $28,000. Strs Ohio boosted its position in MBX Biosciences by 128.6% during the 1st 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. Finally, Royal Bank of Canada grew its position in MBX Biosciences by 59.6% in the fourth quarter. Royal Bank of Canada now owns 1,532 shares of the company’s stock valued at $49,000 after purchasing an additional 572 shares in the last quarter.

MBX Biosciences Company Profile

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.