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

MBX Biosciences, Inc. (NASDAQ:MBX) shares were 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 research firms have also commented on MBX. Stifel Nicolaus increased their price objective on shares of MBX Biosciences from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, December 19th. Guggenheim boosted their target price on MBX Biosciences from $77.00 to $88.00 and gave the stock a “buy” rating in a research note on Friday, January 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MBX Biosciences in a report on Thursday, January 22nd. TD Cowen reaffirmed a “buy” rating on shares of MBX Biosciences in a research report on Thursday, March 12th. Finally, Barclays started coverage on MBX Biosciences in a research report on Tuesday, January 27th. They issued an “overweight” rating and a $66.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $51.56.

Insiders Place Their Bets

In other news, CEO P. Kent Hawryluk bought 18,500 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was acquired at an average cost of $28.41 per share, with a total value of $525,585.00. Following the completion of the transaction, the chief executive officer directly owned 486,777 shares of the company’s stock, valued at $13,829,334.57. This represents a 3.95% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 52.19% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MBX. Seven Fleet Capital Management LP purchased a new stake in MBX Biosciences in the 4th quarter worth about $574,000. Invesco Ltd. boosted its position in MBX Biosciences by 79.9% during the fourth quarter. Invesco Ltd. now owns 21,203 shares of the company’s stock worth $669,000 after purchasing an additional 9,415 shares during the period. KVP Capital Advisors LP bought a new position in MBX Biosciences during the fourth quarter worth about $3,833,000. Opaleye Management Inc. increased its stake in shares of MBX Biosciences by 2.8% in the fourth quarter. Opaleye Management Inc. now owns 260,000 shares of the company’s stock worth $8,200,000 after purchasing an additional 7,000 shares in the last quarter. Finally, Elmind Capital LP purchased a new position in shares of MBX Biosciences in the fourth quarter worth about $6,655,000.

MBX Biosciences Stock Up 8.2%

The company has a market cap of $1.53 billion, a P/E ratio of -13.40 and a beta of 1.25. The firm’s 50-day moving average price is $33.60 and its 200-day moving average price is $28.08.

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.

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.