MBX Biosciences (NASDAQ:MBX) Shares Up 6.5% – Here’s Why

MBX Biosciences, Inc. (NASDAQ:MBX)’s stock price shot up 6.5% during trading on Thursday . The company traded as high as $62.77 and last traded at $62.1060. 219,287 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 708,911 shares. The stock had previously closed at $58.30.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on MBX shares. UBS Group reaffirmed a “buy” rating and set a $90.00 price objective on shares of MBX Biosciences in a research report on Thursday. Lifesci Capital upgraded MBX Biosciences to a “strong-buy” rating in a research note on Tuesday, March 31st. Truist Financial lifted their price target on MBX Biosciences from $50.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Wall Street Zen cut MBX Biosciences from a “hold” rating to a “sell” rating in a research report on Monday. Finally, Stifel Nicolaus set a $56.00 price objective on MBX Biosciences in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $66.75.

MBX Biosciences Stock Performance

The firm’s 50-day moving average price is $44.25 and its two-hundred day moving average price is $37.49. The firm has a market cap of $2.94 billion, a PE ratio of -28.10 and a beta of 0.16.

Hedge Funds Weigh In On MBX Biosciences

Several large investors have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its position in shares of MBX Biosciences by 112.8% in the 3rd quarter. Wellington Management Group LLP now owns 4,823,336 shares of the company’s stock valued at $84,408,000 after purchasing an additional 2,556,708 shares during the period. Aaron Wealth Advisors LLC increased its position in MBX Biosciences by 1,568.8% during the first quarter. Aaron Wealth Advisors LLC now owns 1,168,176 shares of the company’s stock worth $34,870,000 after buying an additional 1,098,176 shares during the period. Braidwell LP acquired a new position in MBX Biosciences during the fourth quarter worth approximately $32,127,000. Deep Track Capital LP lifted its stake in MBX Biosciences by 43.9% in the third quarter. Deep Track Capital LP now owns 3,150,000 shares of the company’s stock valued at $55,125,000 after buying an additional 961,408 shares during the last quarter. Finally, Eventide Asset Management LLC acquired a new stake in shares of MBX Biosciences in the fourth quarter valued at approximately $28,071,000.

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.