MBX Biosciences (NASDAQ:MBX) Upgraded at Wall Street Zen

MBX Biosciences (NASDAQ:MBX) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Sunday.

MBX has been the subject of a number of other reports. Truist Financial upped their price objective on MBX Biosciences from $50.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Citizens Jmp upped their target price on MBX Biosciences from $76.00 to $86.00 and gave the stock a “market outperform” rating in a research note on Tuesday, May 12th. Citigroup reiterated an “outperform” rating on shares of MBX Biosciences in a research report on Tuesday, May 12th. Stifel Nicolaus set a $56.00 price objective on shares of MBX Biosciences in a report on Tuesday, May 12th. Finally, Barclays upped their price objective on shares of MBX Biosciences from $66.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $60.22.

MBX Biosciences Stock Down 7.1%

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

Institutional Investors Weigh In On MBX Biosciences

Several institutional investors have recently added to or reduced their stakes in MBX. Geode Capital Management LLC increased its position in shares of MBX Biosciences by 27.0% in the second quarter. Geode Capital Management LLC now owns 348,447 shares of the company’s stock valued at $3,976,000 after acquiring an additional 73,989 shares during the period. Rhumbline Advisers boosted its holdings in shares of MBX Biosciences by 171.6% during the second quarter. Rhumbline Advisers now owns 23,662 shares of the company’s stock worth $270,000 after purchasing an additional 14,950 shares during the period. XTX Topco Ltd bought a new stake in shares of MBX Biosciences in the second quarter worth about $135,000. The Manufacturers Life Insurance Company increased its holdings in MBX Biosciences by 73.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 87,097 shares of the company’s stock valued at $994,000 after purchasing an additional 36,987 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in MBX Biosciences by 40.3% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,329 shares of the company’s stock valued at $106,000 after purchasing an additional 2,682 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.