MBX Biosciences, Inc. (NASDAQ:MBX) Receives $60.22 Average PT from Analysts

MBX Biosciences, Inc. (NASDAQ:MBX) has been assigned a consensus rating of “Moderate Buy” from the thirteen ratings firms that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $60.2222.

Several analysts have commented on MBX shares. Truist Financial raised their target price on shares of MBX Biosciences from $50.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MBX Biosciences in a report on Tuesday, April 21st. Citigroup reissued an “outperform” rating on shares of MBX Biosciences in a research report on Tuesday, May 12th. Citizens Jmp raised their price objective on shares of MBX Biosciences from $76.00 to $86.00 and gave the stock a “market outperform” rating in a report on Tuesday, May 12th. Finally, Stifel Nicolaus set a $56.00 target price on shares of MBX Biosciences in a research note on Tuesday, May 12th.

MBX Biosciences Trading Down 7.1%

Shares of NASDAQ:MBX traded down $4.66 during trading on Friday, hitting $61.05. 851,979 shares of the company’s stock traded hands, compared to its average volume of 1,008,028. The company has a 50-day moving average price of $40.35 and a 200-day moving average price of $35.90. MBX Biosciences has a 52 week low of $9.63 and a 52 week high of $66.55. The company has a market cap of $2.91 billion, a price-to-earnings ratio of -27.62 and a beta of 0.16.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Wellington Management Group LLP grew its holdings in shares of MBX Biosciences by 112.8% during the third quarter. Wellington Management Group LLP now owns 4,823,336 shares of the company’s stock worth $84,408,000 after buying an additional 2,556,708 shares in the last quarter. Aaron Wealth Advisors LLC boosted its position in MBX Biosciences by 1,568.8% during the 1st quarter. Aaron Wealth Advisors LLC now owns 1,168,176 shares of the company’s stock worth $34,870,000 after acquiring an additional 1,098,176 shares during the last quarter. Braidwell LP acquired a new position in MBX Biosciences during the 4th quarter worth approximately $32,127,000. Deep Track Capital LP grew its stake in shares of MBX Biosciences by 43.9% during the 3rd quarter. Deep Track Capital LP now owns 3,150,000 shares of the company’s stock worth $55,125,000 after acquiring an additional 961,408 shares in the last quarter. Finally, Eventide Asset Management LLC bought a new position in shares of MBX Biosciences during the 4th quarter worth approximately $28,071,000.

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.